MakerDAO to Allocate Reserve 500 Mln DAI in Bonds

The community of the DeFi platform MakerDAO has begun voting on investing 500 mln DAI not involved in the treasury in bonds with minimal risk. The initiative is aimed at mitigating the effects of a bear market. At the time of writing, MakerDAO has accumulated $4 bln in DAI on its balance sheet.

Of the five options proposed by Monetalis CEO Allan PEDERSON, the community rallied around two ideas: invest 80% of DAI in short-term US Treasury bills and 20% in corporate bonds, or allocate 100% of DAI in short-term US Treasury bills. Participants also have the option to abstain or reject both proposals.

Voting began yesterday and will end on June 30 at 16:00 UTC. At the time of writing, only 27,652 MKRs have taken part in the voting process, which is about 3% of the total in circulation. 98.84% of votes were in favor of 100% allocation in short-term US Treasury bills.

Image: The Cryptonomist