{"id":517470,"date":"2022-11-28T23:00:00","date_gmt":"2022-11-28T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/makerdao-community-votes-against-coinshares-500m-investment-proposal\/"},"modified":"2022-11-28T23:00:00","modified_gmt":"2022-11-28T20:00:00","slug":"makerdao-community-votes-against-coinshares-500m-investment-proposal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/makerdao-community-votes-against-coinshares-500m-investment-proposal\/","title":{"rendered":"# MakerDAO community votes against CoinShares&#8217; 500M investment proposal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22f2d976ef5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22f2d976ef5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/makerdao-community-votes-against-coinshares-500m-investment-proposal\/#%E2%80%9D_MakerDAO_community_votes_against_CoinShares_500M_investment_proposal_%E2%80%9C\" >&#8221; MakerDAO community votes against CoinShares&#8217; 500M investment proposal   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_MakerDAO_community_votes_against_CoinShares_500M_investment_proposal_%E2%80%9C\"><\/span>&#8221; MakerDAO community votes against CoinShares&#8217; 500M investment proposal   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvOWZmNjNjZDctY2EzMS00ZTA3LTgxMTEtYmNjMTA3ODBmMTUxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Decentralized lending protocol, MakerDAO, has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/vote.makerdao.com\/polling\/QmXpRmAP#vote-breakdown\">voted<\/a> against crypto investment firm CoinShares&#8217; proposal to invest between 100million and 500million worth of the community\u2019s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy.\u00a0<\/p>\n<p>72.43% of the community votes went against CoinShares&#8217; proposal to invest MakerDAO\u2019s funds into various traditional assets. If the community had voted in favor of CoinShare\u2019s proposal, the crypto investment firm would have provided \u201ca variable APY above the SOFR interest rate (3.01% as of October 26, 2022) in the community\u2019s preferred currency (DAI, USDC, USD\u2026) to MakerDAO&#8221;, which would have been withdraw-able on-chain.\u00a0<\/p>\n<p>On the community board of MakerDAO, a few members explained why they voted against the proposal. A community member with the username \u201cFeedblack Loops LLC&#8221; shared:<\/p>\n<blockquote><p>\u201cSince governance has voted on excess USDC then available, going to just say no to proposals of this type moving forward until the house gets in order. Coinshares had many incongruencies up front but did a decent job of articulating confusing portions of their proposal. Optimistic for a revision \/ different <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach.\u201d<\/p><\/blockquote>\n<p>Another user by the name Llama, who also voted against the proposal, said: \u201cWe believe this proposal to be extremely beyond protocol risk tolerance.\u201d<\/p>\n<p><strong><em>Related: MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico<\/em><\/strong><\/p>\n<p>In October, the MakerDAO community approved the custodianship of $1.6 billion worth of the stablecoin USD Coin <strong>(USDC) <\/strong>with the institutional prime brokerage platform for crypto assets, Coinbase Prime. The custodianship was expected to allow the MakerDAO community to earn a 1.5% reward on USDC held with Coinbase Prime.\u00a0<\/p>\n<p>On Oct. 14, Cointelegraph reported that MakerDAO\u2019s revenue plummeted in the third quarter of 2022, caused by a fall in loan demand and few liquidations, while expenses remained high.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/makerdao-community-votes-against-coinshares-500m-investment-proposal\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; MakerDAO community votes against CoinShares&#8217; 500M investment proposal &#8220; Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares&#8217; proposal to invest between 100million and 500million worth of the community\u2019s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy.\u00a0 72.43% of the community votes went&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvOWZmNjNjZDctY2EzMS00ZTA3LTgxMTEtYmNjMTA3ODBmMTUxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74983,74868,75159,75493,73711],"class_list":["post-517470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-decentralization","tag-defi","tag-digital-currency","tag-stablecoin","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517470"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517471"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}