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MakerDAO planning on asset acquisition, and expansion

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stable coin

MakerDAO is a decentralized platform for lending stable coins is planning to launch new assets for its users. These assets will qualify as collaterals too.

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In a governance voting, people proposed several tokens for the same purpose. These tokens can be used to mint Dai, MakerDAO’s stable coins.

These tokens are as follows:

  • Moss Carbon Credit (MCO2)
  • Rocket Pool’s stacked Ethereum (rETH)
  • 1INCH
  • BadgerDAO Sett token (bBADGER)
  • DAI-USDC LP token from SushiSwap
  • DAI-PAX LP token from Uniswap

The voting will end in a few days, and if any of these is selected, then it will be used as collateral in the process of new DAI creation.

This idea was in motion for the past year, after the market saw the event of the Black Thursday crash in March, in which millions of dollars of assets being liquidated, quite unexpectedly. The company will also introduce a new protocol.

Maker ascertains that the new protocol can predict future liquidations.

DAI rose to a considerable high during the first half of this year to 3.4 billion.

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