MakerDAO Acquires An Additional $700 Million in US Treasury Bonds

MakerDAO recently announced the completion of its acquisition of an extra $700 million worth of US Treasury bonds, bringing its total bond allocation to $1.2 billion. This decision follows an earlier MakerDAO proposal to increase the debt ceiling for MIP65 and take advantage of the existing yield environment. Digital asset research company ASXN noted that stETH collateral has begun to surpass ETH as the dominant backing for DAI.