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DeFi Protocol MakerDAO Puts $500 Million in Treasuries, Bonds

  • The move aims to diversify the balance sheet of MakerDAO
  • DAI stablecoin was converted to $500 million to invest
MakerDAO Maker DOA
Photographer: Maker

One of the original decentralized-finance protocols that was set up to challenge the legacy banking system is moving $500 million into short-term US Treasuries and corporate bonds. 

MakerDAO, the so-called decentralized autonomous organization that supports the crypto stablecoin DAI, is shifting $500 million worth of the token to the fixed-income obligations, which have traditionally been havens for conventional investors during times of turmoil.