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, in keeping with the proposal’s official web page.

Within the proposal posted on March 17, the MakerDAO Danger Core Unit prompt that the danger of a cascading financial institution run within the U.S. has been decreased, because of responses from the federal authorities. Because of this, the danger of utilizing USDC as collateral “has declined considerably since final week and additional solvency considerations or depegs will not be anticipated presently.”

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