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MakerDAO Approves Vault to Invest Up to $1.28 Billion in U.S. Treasuries

MakerDAO Approves Vault to Invest Up to $1.28 Billion in U.S. Treasuries

2023/06/02 03:27

The MakerDAO community unanimously approved the creation of a real-world asset (RWA) vault called BlockTower Andromeda, according to a vote that concluded Thursday. The vault, to be managed by asset management firm BlockTower Capital, will invest up to $1.28 billion in short-term U.S. Treasuries funded by Maker's over-collateralized stablecoin DAI. Maker will pay BlockTower Capital a 0.15 percent arrangement fee. broker and the assets will be held by Wedbush Securities. Maker has previously purchased $1.1 billion in government and corporate bonds through a vault managed by asset management firm Monetalis Clysdale.

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