MakerDAO, the decentralized autonomous group that governs the Dai (AID) stablecoin, voted overwhelmingly to maintain (USDC) as the first collateral for Dai. Another proposal to “diversify” collateral into Gemini Greenback (GUSD) and Paxos Greenback (USDP) has been rejected in a vote of 20% to 79%, in keeping with the proposal’s official web page.
Within the proposal revealed on March 17, the MakerDAO Threat Core Unit urged that the chance of a cascading financial institution run in the USA has been diminished, due to the responses of the federal authorities. Consequently, the chance of utilizing USDC as collateral “has decreased considerably since final week and additional solvency points or depegs are usually not anticipated right now.”
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