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The MakerDAO community has approved a proposal to place as much as $1.6b in USD coin (USDC) with Coinbase Prime, where it will yield 1.5%. Decisions on MakerDAO are made by votes of its governance token, MKR, and for this proposal, 109,944 MKR were put toward saying "yes," or about 75% of the total vote. Some 14% voted "no," and 11% abstained.
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"This proposed collaboration with Coinbase (COIN) follows an approved signal of intent by the MakerDAO community to increasingly invest Maker’s collateral into short-term bonds," Jennifer Senhaji, growth and business development lead at MakerDAO, said in a statement.
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