MakerDAO transfers part of its reserves into US securities
These will be corporate and treasury bonds
They will be making their first test transfer as early as today
MakerDAO, the oldest DeFi project, is transferring part of its stablcoin reserves into US securities. This is the decision made by DAO. They have agreed to invest $500m in US corporate and treasury bonds. They will carry out a $1 million test transaction today. The rest of the funds will be invested in securities in the coming days.
MakerDAO participants explained their decision by their desire to strengthen the project’s balance sheet with liquid and low-risk traditional assets.
DeFi consulting company Monetalis has partnered with the project.
The investment will be distributed as follows. The company will buy short-term treasury bonds for 80% of the amount, and the remaining 20% will go into corporate bonds. At the same time, $500m will be split equally between asset managers Signum Bank and Baillie Gifford. Monetalis will act as the provider.
It is the first blockchain company to invest in classic securities.