MakerDAO RWA Belongings Attain Extra Than $3 Billion
Based on the most recent figures from the MakerBurn statistics web page supplied by Wu Blockchain, $101 million in MakerDAO RWA belongings have been added to the DAI escrow fund prior to now 24 hours. This quantity of belongings has been gathered by Monetalis Clydesdale, BlockTower Andromeda, and New Silver.
MakerDAO as soon as once more added $101 million in RWA belongings prior to now 24 hours by Monetalis Clydesdale, BlockTower Andromeda, and New Silver. That is the seventh improve this month. At the moment, the entire RWA belongings in MakerDAO have exceeded US$3.1 billion. https://t.co/Olej0fYTRB
— Wu Blockchain (@WuBlockchain) September 27, 2023
At press time, MakerDAO RWA belongings have reached $3.1 billion, of which $1.28 billion is in Andromeda’s Vault. The transaction is the most recent step in Maker’s technique to diversify the belongings backing the $5.3 billion dollar-pegged stablecoin DAI by growing the function of conventional monetary belongings comparable to authorities bonds within the reserve.
The development of shifting to conventional belongings is more and more clear, particularly with stablecoin initiatives. Frax Finance additionally lately introduced a proposal to deploy sFRAX to have the ability to reap the benefits of giant revenue sources from authorities bonds.
Stablecoins Shift to Conventional Belongings
MakerDAO’s elevated concentrate on RWAs is a optimistic signal for the soundness of DAI. By backing DAI with quite a lot of belongings, together with authorities bonds, MakerDAO is making DAI extra resilient to market fluctuations.
This development can also be more likely to have a optimistic impression on the general stablecoin market. As extra stablecoins shift to utilizing RWAs as collateral, the whole market will turn out to be extra steady and dependable.
DISCLAIMER: The knowledge on this web site is supplied as common market commentary and doesn’t represent funding recommendation. We encourage you to do your personal analysis earlier than investing.