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MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves

Decentralized finance giant MakerDAO’s community voted for keeping Gemini USD (GUSD) stablecoin as part of the protocol’s reserve system for its DAI stablecoin in a dramatic vote that flipped at the finish line.

In a poll that concluded Thursday, 50.85% of the votes favored keeping the GUSD debt ceiling at $500 million level in Maker’s Peg Stability Module (PSM), while 49.15% voted for decreasing to zero. The result means GUSD will remain as a reserve asset for Maker’s $5 billion DAI.

Up until the very end of the voting, votes favoring removing GUSD from the PSM led the tally.

Crypto investors have worried that Gemini’s woes may affect GUSD stablecoin and spread to Maker’s $5 billion DAI stablecoin too.

MakerDAO Gemini
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