Société Générale-Forge Will Be Able To Take Out A Loan Of Up To 30 Mln DAI
15 July 2022 14:15, UTC
MakerDAO has voted to create a Real World Asset (RWA) vault dedicated to digital asset subsidiary Société Générale. 116,097 MKR were submitted for voting (about 12% of the total MKR) among 47 unique voters, 83.16% of which voted in favor and 16.84% abstained. There were no votes against the proposal.
MakerDAO will soon create a vault where Société Générale-Forge (SG-Forge), the digital asset subsidiary of Société Générale, can borrow over-collateralized DAI in exchange for OFH tokens. These tokens are covered bonds rated Aaa by Moody's and AAA by Fitch.
SG-Forge will be able to borrow up to 30 mln DAI and can be liquidated on-chain like any other MakerDAO user, subject to rules specifically set for RWA vaults.
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