MakerDAO Plans to Invest 600 Million DAI into USDe and sUSDe

Bittime - MakerDAO, a pioneer in the decentralized finance (DeFi) space, is consideringa major investment. The submitted proposal proposes allocating funds of 600 million DAI into USDe and staked USDe (sUSDe) through the DeFi lending protocol, Morpho Labs.

What is MakerDAO? 

MakerDAO is one of the pioneers in the DeFi field which is famous for its DAI stablecoin. This proposed investment decision demonstrates MakerDAO's commitment to continuing to innovate and support the development of the DeFi ecosystem as a whole.

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USDe and sUSDe: Stablecoins from Ethena Labs

The two crypto assets that will be investment targets, USDe and sUSDe, are issued by Ethena Labs, a leading stablecoin developer. If this proposal is approved by the MakerDAO community, this investment is predicted to have a positive impact on Ethena's total value locked (TVL) growth.

Currently, USDe has a supply of 1.34 billion tokens, which is equivalent to 1.74% of the total stablecoin supply on the Ethereum network. Meanwhile, last February, Ethena Labs managed to raise funding of $14 million with a company valuation of $300 million.

Also Read: What is Ethena (USDe)? Digital Payment Solutions

MakerDAO Proposal Details

According to the proposed proposal, the allocation of funds of 600 million DAI to USDe and sUSDe is considered a strategic step.

This figure was obtained using the lowest limit from various considerations. The proposal also states plans to increase investment as Ethena grows. However, for the initial stage, funding allocation will be limited to $600 million.

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Ethena Prospects and Impact on MakerDAO

MakerDAO's decision to invest in USDe and sUSDe is expected to drive Ethena's growth. In contrast, Ethena, which has a stable and continuously developing ecosystem, is considered a strategic partner that has the potential to benefit MakerDAO.

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How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read: 

What Are Decentralized Stablecoins?

What are Stablecoins and How Are They Different from Fiat?

Stablecoin Algorithm: Stable Digital Money Innovation

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.