MakerDAO, a decentralized autonomous organization that issues the DAI stablecoin, has voted in favor of allocating more funds to its current US Treasury investments.
The increase in investments in government treasury bonds aims to diversify DAI’s stablecoin liquid backing through exposure to real-world assets (RWAs).
MakerDAO Votes to Increase Debt Ceiling by $750 Million
The first stage of MakerDAO’s expanded foray into investing in RWAs has concluded with the passing of the preliminary vote to increase the DAO’s real-world asset vault debt ceiling to 1.25 billion DAI ($1.25 billion).
The governance poll, which started on March 13, was active for three days and ended on Thursday, March 16, 2023. Based on the results, the majority of the votes were in favor of the proposal to raise the debt ceiling by $750 million. The debt ceiling in MakerDAO refers to the maximum DAI that can be minted against the collateral in the vault. The current for this vault is $500 million.
This concluded poll is only a preliminary vote. The matter will be put to an executive vote among DAO delegates. If it passes, it will be executed as part of a future governance package.