MakerDAO Passes Proposal To Deploy $100 Million USDC In Yearn Finance Vault

MakerDAO Passes Proposal To Deploy $100 Million USDC In Yearn Finance Vault


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

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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

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