In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.”
The proposal, submitted on January 9, aims to look for a way MakerDAO could split its treasury allocations and earn yield.
MakerDAO To Generate Yields From Yearn Finance Vault
Following the approval of the MIP92 (Maker Improvement Proposal 92), MakerDAO plans to begin depositing $100 million USDC to the Yearn finance vault to earn a 2% yield annually, approximately $2 million every year on its YearnFi investment.
Founded by prominent DeFi developer Andre Cronje, Yearn finance is a yield aggregator built