{"id":12188,"date":"2024-04-02T10:40:23","date_gmt":"2024-04-02T07:40:23","guid":{"rendered":"https:\/\/forklog.com\/en\/makerdao-considers-increasing-investment-in-ethenas-usde-to-600-million\/"},"modified":"2024-04-02T10:40:23","modified_gmt":"2024-04-02T07:40:23","slug":"makerdao-considers-increasing-investment-in-ethenas-usde-to-600-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/makerdao-considers-increasing-investment-in-ethenas-usde-to-600-million\/","title":{"rendered":"MakerDAO Considers Increasing Investment in Ethena&#8217;s USDe to $600 Million"},"content":{"rendered":"<p>DeFi project MakerDAO is <a href=\"https:\/\/forum.makerdao.com\/t\/morpho-spark-dai-vault-update-1-april-2024\/24006\">considering<\/a> setting a limit of 600 million DAI for investments in USDe through the Morpho Labs protocol.<\/p>\n<p>The <a href=\"https:\/\/forklog.com\/en\/news\/delta%e2%80%91neutral-synthetic-dollars-why-the-usde-stablecoin-matters\">\u201csynthetic stablecoin\u201d<\/a> based on Ethereum is issued and supported by Ethena Labs.\u00a0<\/p>\n<p>The governance proposal from MakerDAO states that USDe provides a reward score of seven, while the \u201cwrapped\u201d version sUSDe from Morpho offers five and approximately 30% annual yield. However, the first option is preferred by users, noted MakerDAO.<\/p>\n<p>As of March 29, the project <a href=\"https:\/\/twitter.com\/MakerDAO\/status\/1773722536213102605\">reached<\/a> the previously set limit of 100 million DAI, placed for passive earnings on USDe. The new proposal allows for an increase up to $1 billion.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cUsing the lowest of the above thresholds gives a maximum recommended risk of $600 million. It will gradually increase as Ethena grows, but for now, we believe it is prudent to cap the overall allocation at this level,\u201d states the message on the MakerDAO governance forum.<\/p>\n<\/blockquote>\n<p>Ethena&#8217;s Head of Growth, Seraphim Cheker, noted that the increase in the protocol&#8217;s locked value \u201caligns with internal expectations.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Not a joke: <a href=\"https:\/\/twitter.com\/MakerDAO?ref_src=twsrc%5Etfw\">@MakerDAO<\/a> considering allocating up to $600m DAI into sUSDe and USDe via <a href=\"https:\/\/twitter.com\/MorphoLabs?ref_src=twsrc%5Etfw\">@MorphoLabs<\/a> with possibility to go up to $1 billion <\/p>\n<p>Ethena TVL growth is on track with internal expectations<a href=\"https:\/\/t.co\/kKEhPoDwQm\">https:\/\/t.co\/kKEhPoDwQm<\/a> <a href=\"https:\/\/t.co\/F1QP1xPBFW\">pic.twitter.com\/F1QP1xPBFW<\/a><\/p>\n<p>\u2014 Seraphim (@MacroMate8) <a href=\"https:\/\/twitter.com\/MacroMate8\/status\/1774860464855351537?ref_src=twsrc%5Etfw\">April 1, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">CoinGecko<\/a>, the market capitalization of USDe exceeds $1.5 billion, while DAI&#8217;s figure approaches $5 billion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"277\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4-1024x277.jpg\" alt=\"Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4\" class=\"wp-image-229771\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4-1024x277.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4-300x81.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4-768x208.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Top-Stablecoins-by-Market-Cap-CoinGecko-Google-Chrome-4.jpg 1145w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>Earlier, on April 2, Ethena Labs <a href=\"https:\/\/forklog.com\/en\/news\/ethena-labs-to-airdrop-750-million-ena-tokens\">announced<\/a> an airdrop of 750 million ENA governance tokens among participants of the Shard incentive program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DeFi project MakerDAO is considering setting a limit of 600 million DAI for investments in USDe through the Morpho Labs protocol. The \u201csynthetic stablecoin\u201d based on Ethereum is issued and supported by Ethena Labs.\u00a0 The governance proposal from MakerDAO states that USDe provides a reward score of seven, while the \u201cwrapped\u201d version sUSDe from Morpho [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[52,1100,807],"class_list":["post-12188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-investments","tag-makerdao","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12188"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12187"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}