Decentralized Autonomous Organization (DAO), MakerDAO has began voting on how to allocate $500 million in treasury funds. The proposal is aimed at helping the organization navigate the ongoing bear market. This is to be achieved through investments in United States treasuries and bonds.
The MakerDAO proposal is intended to help the organization weather the bear market and use its untapped reserves. The plan is to invest 500 million DAI stablecoins into a mixture of United states treasuries and bonds. Members of the decentralized autonomous organization (DAO) are involved in the decision making through voting.
The organization took to Twitter to make the announcement about the vote in a tweet.
It reads, ”The Maker Governance votes to determine how to allocate 500 million DAI between different investment strategies. This allocation poll is a result of the passage of MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution”
The poll ends on the 30th of July 2022 at 12:00 pm EST. Once the users have selected an option, Monetalis, European wholesale lender, will give MakerDAO access to the financial instruments needed.
The organization has decided to invest significant funds after members recommended that deploying the unused funds in such a capacity would significantly boost the protocol’s bottom line while incurring minimal risk.
MakerDAO is the governance entity of the Maker Protocol. It issues the DAI stablecoin in exchange for ETH, Wrapped Bitcoin (wBTC), and a host of other cryptocurrencies.
