{"id":21597,"date":"2023-06-14T19:48:05","date_gmt":"2023-06-14T19:48:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/makerdao-votes-to-decrease-gusd-held-in-dai-stablecoin-reserve\/"},"modified":"2023-06-14T19:48:05","modified_gmt":"2023-06-14T19:48:05","slug":"makerdao-votes-to-decrease-gusd-held-in-dai-stablecoin-reserve","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/makerdao-votes-to-decrease-gusd-held-in-dai-stablecoin-reserve\/","title":{"rendered":"MakerDAO votes to decrease GUSD held in DAI stablecoin reserve"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686765381221-abb64b26-39df-4cf7-be08-eaed4162a5f9-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686765381221-abb64b26-39df-4cf7-be08-eaed4162a5f9-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686765381221-abb64b26-39df-4cf7-be08-eaed4162a5f9-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1686765381221-abb64b26-39df-4cf7-be08-eaed4162a5f9-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>MakerDAO could soon remove $390M of Gemini\u2019s GUSD stablecoin from its reserves.<\/li>\n<li>The DAO is currently voting to decrease the maximum amount of GUSD held in Maker\u2019s DAI stablecoin reserve to $110M.<\/li>\n<li>MakerDAO\u2019s reserve currently holds roughly 88% of total GUSD supply.<\/li>\n<\/ul>\n<p>MakerDAO, a decentralized lending platform and DAI stablecoin issuer may soon sell $390 million of the Gemini Dollar (GUSD) stablecoin issued by the <a href=\"https:\/\/coinjournal.net\/exchanges\/gemini\/\">Gemini cryptocurrency exchange<\/a>.<\/p>\n<p>The <a href=\"https:\/\/vote.makerdao.com\/polling\/QmaXg3JT#poll-detail\">Peg Stability Module (PSM) being voted on<\/a> by the MakerDAO\u2019s community, would reduce the maximum amount of GUSD from $500 million held in Maker\u2019s DAI stablecoin reserve to just $110 million.<\/p>\n<p>At press time about 94% of those who had cast their ballots, with less than 24 hours until the vote\u2019s conclusion, support the proposal to lower GUSD.<\/p>\n<h2>Gemini Dollar (GUSD) future<\/h2>\n<p>Given that Maker controls about 88% of the stablecoin\u2019s $568 million circulating supply, the vote will significantly impact the future of GUSD, whose <a href=\"http:\/\/MakerDAO%20votes%20to%20decrease%20GUSD%20held%20in%20DAI%20stablecoin%20reserve\">metrics have been relatively stable<\/a>. Maker supports the $4.5 billion DAI\u2019s value by holding cryptocurrencies like Circle\u2019s USDC and GUSD in its reserve and making investments in physical assets like bonds.<\/p>\n<p>MakerDAO receives a 2% annual reward from Gemini for using the token as a reserve asset. Gemini is the issuer of GUSD. However, the proposal argued that by investing in short-term US Treasuries, which currently offer a yield of around 5%, the platform could benefit from better revenue opportunities.<\/p>\n<p>The <a href=\"https:\/\/forum.makerdao.com\/t\/adjusting-psm-gusd-a-parameters-debt-ceiling-and-tout\/21105\">proposal <\/a>states:<\/p>\n<p><em>\u201cReducing GUSD exposure could allow for better capital efficiency by deploying funds into higher revenue-generating opportunities.\u201d<\/em><\/p>\n<p>The vote to reduce GUSD from DAI\u2019s reserve comes just days after the DAO <a href=\"https:\/\/coinjournal.net\/news\/makerdao-votes-to-drop-pax-dollar-usdp-stablecoin-from-its-reserves\/\">voted to drop MakerDAO drop Pax Dollar (USDP) stablecoin<\/a> from its reserves.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/makerdao-votes-to-decrease-gusd-held-in-dai-stablecoin-reserve\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) MakerDAO could soon remove $390M of Gemini\u2019s GUSD stablecoin from its reserves. The DAO is currently voting to decrease the maximum amount of GUSD held in Maker\u2019s DAI stablecoin reserve to $110M. MakerDAO\u2019s reserve currently holds roughly 88% of total GUSD supply. MakerDAO, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":21598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21597"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21597"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21598"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}