The MakerDAO community rebuffed state-chartered Cogent Bank’s proposal to borrow $100 million from the decentralized lending platform Maker, the protocol’s governance site showed on Monday.

Some 73% of the voters rejected the plan.

MakerDAO is a decentralized autonomous organization that manages the lending platform Maker through proposals and votes. Maker issues the $5 billion stablecoin DAI, backing its value by collateralized digital assets from borrowers, and increasingly by real-world assets (RWAs) such as liabilities from traditional financial institutions like banks.

Cogent Bank, a Florida-based state-chartered bank with more than $1 billion in total assets, proposed borrowing up to $100 million in DAI stablecoin from Maker and would have used the funds to extend loans to its corporate and industrial clients, according to the MIP-95 proposal posted on Maker’s governance forum.