What Happened on June. 2nd | MakerDAO Invests in U.S. Treasuries and Raising DAI Saving Rate

TI Research

The risk free rate in the traditional financial market has become so attractive that DeFi protocols are now flocking to US Treasures for safety and higher yield.

US Treasuries rates are considered risk free rates in the financial market. After a year of raising interest rates, the 1-year US treasury rate is now over 5%, a much higher yield than what you can find in DeFi, where USDC and USDT supply rates are merely 2-3%.

MakerDAO Approves Purchase Additional $1.28 Billion in U.S. Government Bonds. MakerDAO has already made notable investments in government and corporate bonds, with a total value of $1.1 billion, the new move will make the total amount investing in bonds over $2.38 billion, 27% of total value locked in MakerDAO protocol.

MakerDAO to Vote Raising Dai Saving Rate to 3.33%. The Dai Savings Rate (DSR) is a feature of the Maker Protocol that allows users to earn interest on their DAI by locking it into a DSR contract. The proposal was approved on Thursday. As the current USDC and USDT supply yields on major lending protocol are at around 2.5%, DAI will become a lot more attractive to hold than other stablecoins.

Biggest Gainers & Losers

Source:TokenInsight Gainers and losers


Uniswap's Proposal to Introduce Protocol Fees Fails to Gain Enough Votes: The proposal narrowly missed being passed with 45.32% of votes going to the “no fee” camp and 42.34% voting to charge liquidity providers one-fifth of the fees they receive from users. Another 12.3% voted to enact a fee charge of one-tenth.

MakerDAO Approves Purchase Additional $1.28 Billion in U.S. Government Bonds

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