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MakerDAO proposes allocating $600 million worth of DAI into USDe and sUSDe vaults, potentially generating significant revenue. Concerns arise about the risk of depegging and collateral choices. Aave explores listing sUSDe as collateral, likely boosting stablecoin lending rates on the platform.
Maker DAO is proposing to ramp up its usage of Morpho’s lending infrastructure from $100m to $600m. Many tweets on Maker's move, but a lot of misunderstanding too. Let me briefly recap what is happening👇
MakerDAO proposal goes up to allocate up to $600m DAI into sUSDe. Then zeller hits aave with a proposal to delist DAI as collateral. Wonder if this more about risk parameter optimization or horizontal scaling and outcompeting. Would suck if defi ends up as walled gardens.
🧵 Issuing $100 mil DAI to farm USDe is one thing, issuing billions is asking to get hurt. Why does MakerDAO plan to risk it and mint $1 bil DAI to farm Ethena yields? Can DAI depeg when USDe inevitably falls under $1? A bold move or something else? A thread (1/20). 👇 https://t.co/tt1q4WG18r
