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

MakerDAO, the decentralized autonomous group that governs the Dai (DAI) stablecoin, has voted overwhelmingly to maintain (USDC) as the first collateral for Dai. An alternate proposal to “diversify” collateral into Gemini Greenback (GUSD) and Paxos Greenback (USDP) was 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 urged that the danger of a cascading financial institution run within the U.S. has been diminished, due to responses from the federal authorities. In consequence, the danger of utilizing USDC as collateral “has declined considerably since final week and additional solvency issues or depegs usually are not anticipated right now.”

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