• MakerDAO recently voted in favor of a 2% extra yield income from Yearn Finance.
• After the vote, MakerDAO’s network growth decreased, but its TVL increased by 20.42%.
• MakerDAO is currently in its proposal rollout period, offering another vote for its offboarding of USDC-A, USDP-A, and GUSD-A vault types.
MakerDAO recently made a move that could have a lasting impact on its future. On 23 January, the governance arm of the DAI stablecoin developers voted in favor of a 2% extra yield income from Yearn Finance. The proposal centered around a DeFi strategy to help Maker earn an annual 2% yield, which would also help with PSM USDC reserves and transfer.
Though the vote was successful, MakerDAO’s network growth decreased. However, the Total Value Locked (TVL) within the MakerDAO network saw a 20.42% surge, according to DeFi Llama’s data. This increase in TVL signaled that more investors have shown interest in the dApps under the Maker network. At press time, the MakerDAO TVL was $7.5 billion, although it was down from its 2022 All-Time High (ATH).
MakerDAO is currently in its proposal rollout period, offering another vote for its offboarding of USDC-A, USDP-A, and GUSD-A vault types. If you’re a USDC-A, USDP-A, or GUSD-A vault owner, MakerDAO strongly encourages you to read the implications of this offboarding process.
Overall, the approval of the „Yearn to earn Yield“ proposal is a positive move for MakerDAO. It adds another means to generate income and add to its reserves, while also increasing its TVL. Though MakerDAO still remains second in the DeFi Total Value Locked standings, the approval of this proposal is an important step for the DAI stablecoin developers.
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