MakerDAO Approves Proposal to Increase US Treasury Bond Holdings by 150%

MakerDAO, a lending protocol and stablecoin issuer, has approved a proposal to increase its portfolio holdings of US Treasury bonds by 150% to $1.25 billion. The move is aimed at increasing exposure to real-world assets and high-quality bonds after its Dai stablecoin lost its $1 peg on March 11.

The bonds will be purchased in equal maturities over a six-month period, with MakerDAO expecting a net annualized yield of 4.5% to 4.6% after custody. The proposal was approved by 77% of Maker's delegates.