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MakerDAO Community Votes on Proposal to Decrease GUSD Stablecoin Reserves by $390 Million

June 15 (Cointime) - MakerDAO, a decentralized finance (DeFi) lending platform and stablecoin issuer, is considering reducing its holding of Gemini's GUSD stablecoin from $500 million to $110 million in its DAI stablecoin reserve.

The community is currently voting on the proposal, with 94% in favor of the reduction. Maker holds 88% of GUSD's circulating supply, and the proposal argues that the platform could benefit from investing in short-term U.S. Treasuries, which offer a 5% yield. Gemini pays MakerDAO a 2% annual reward for using GUSD as a reserve asset.

Maker Maker $1,632.91
+4.04%
MakerDAO DeFi Dai
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