MakerDAO votes to maintain USDC as main collateral, rejects 'diversification' plan

MakerDAO, the decentralized autonomous group (DAO) that governs the DAI stablecoin, has voted overwhelmingly to maintain (USDC) as the first collateral for DAI. An alternate proposal to “diversify” collateral into Gemini U.S. Greenback (GUSD) and U.S. Greenback Paxos (USDP) has been rejected in a 20% to 79% vote, based on the proposal’s official web page.

Within the proposal posted on March 17, the MakerDAO Danger Core Unit recommended that the danger of a cascading financial institution run within the U.S. has been lowered, due to responses from the U.S. federal authorities. Consequently, the danger of utilizing USDC as collateral “has declined considerably since final week and additional solvency issues or depegs aren’t anticipated at the moment.”

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