Crypto News– MakerDAO expands RWA asset holdings by $50 Million via BlockTower Andromeda, primarily investing in Short-Term U.S. Treasuries. The total RWA asset value now stands at approximately $2.514 Billion, with BlockTower Andromeda holding $752 Million and aiming for an investment target of Up to $1.28 Billion. Additionally, the community proposes allocating $100 Million for the creation of tokenized U.S. Treasury Bond (T-Bill) products, encompassing T-Bill Collateralization, seamless offerings, and long-term products.
MakerDAO Boosts RWA Asset Investments by 50 Million Dollars, Aims for 1.28 Billion Dollars Total
These innovative products include Flux fDAI, Maple Cash USDC, Backed Finance bIB01, and bIBTA. The introduction of RWA assets via BlockTower Andromeda and the potential launch of tokenized T-Bill products have the potential to significantly impact the MakerDAO ecosystem and wider cryptocurrency markets.
CoinCu’s latest report brings to the forefront a noteworthy development in MakerDAO’s operations on August 24th, wherein the platform witnessed a substantial augmentation of its Real World Assets (RWA) portfolio, attributed to a substantial $50 million transaction. Data gleaned from Makerburn, a widely acclaimed analytics platform within the crypto community, corroborated that MakerDAO executed an acquisition of short-term Treasury bonds emanating from BlockTower Andromeda. Notably, these bonds present an alluring annual yield of 4.5%, adding a lucrative dimension to MakerDAO’s asset portfolio.
In a parallel discourse, it has recently emerged that Rune Post, one of the esteemed Co-Founders of MakerDAO, has proactively suggested delving into the realm of blockchain innovation. His proposal entails the exploration and potential development of a novel independent blockchain, aptly dubbed ‘NewChain.’ The proposed endeavor would involve the utilization of Solana’s codebase as a starting point, marking an intriguing expansion of MakerDAO’s ambitions in the ever-evolving blockchain ecosystem.