Captured By Tracy D'souza / 1:58 pm on 16 September 2023
Stablecoin issuer and decentralized finance protocol MakerDAO has added $100 million worth of Real-World Assets (RWAs) via BlockTower Andromeda over the last two days. These funds were predominantly allocated to short-term US Treasury bonds offering an attractive annual yield of 4.5%. MakerDAO’s cumulative RWA assets currently stand at approximately $2.7 billion, based on data from Makerburn. The latest acquisition is part of MakerDAO’s “Endgame Plan,” introduced by co-founder Rune Christensen last year. Over three years, DAI will maintain its peg to the dollar, during which the protocol will intensify its focus on RWA, aiming to acquire more Ether and thereby enhance the ratio of decentralized collateral.
