{"id":553330,"date":"2023-02-18T00:50:00","date_gmt":"2023-02-17T21:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/makerdao-voting-on-100m-loan-participation-with-florida-commercial-bank\/"},"modified":"2023-02-18T00:50:00","modified_gmt":"2023-02-17T21:50:00","slug":"makerdao-voting-on-100m-loan-participation-with-florida-commercial-bank","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/makerdao-voting-on-100m-loan-participation-with-florida-commercial-bank\/","title":{"rendered":"# MakerDAO voting on $100M loan participation with Florida commercial bank"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a419a1c676c1\" 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-6a419a1c676c1\" 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-voting-on-100m-loan-participation-with-florida-commercial-bank\/#%E2%80%9D_MakerDAO_voting_on_100M_loan_participation_with_Florida_commercial_bank_%E2%80%9C\" >&#8221; MakerDAO voting on $100M loan participation with Florida commercial bank  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_MakerDAO_voting_on_100M_loan_participation_with_Florida_commercial_bank_%E2%80%9C\"><\/span>&#8221; MakerDAO voting on $100M loan participation with Florida commercial bank  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between\u00a0decentralized finance (DeFi) and traditional finance.\u00a0<\/p>\n<p>As per MakerDAO\u2019s governance forum, Cogent Bank \u2014 a Florida-based commercial bank \u2014 is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.makerdao.com\/t\/mip95-100m-of-cogent-bank-loan-participations\/19338\">proposing<\/a> to participate with $100 million in loans to MakerDAO\u2019s RWA Master Participation Trust. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Maker Governance votes on 4 Governance Polls within the current monthly governance cycle.<\/p>\n<p>What&#8217;s being voted on and what are the implications?<\/p>\n<p>Recap, here. \u2193 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YivsBJHpHv\">pic.twitter.com\/YivsBJHpHv<\/a><\/p>\n<p>\u2014 Maker (@MakerDAO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MakerDAO\/status\/1626637605684056072?ref_src=twsrc%5Etfw\">February 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The proposal is part of MakerDAO\u2019s monthly governance cycle and seeks the same terms and conditions <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>lied to Pennsylvania-based bank Huntingdon Valley Bank (HVB), which entered into\u00a0a collateral integration with the crypto firm in July 2022, allowing the bank to borrow against its assets using DeFi.<\/p>\n<p>Under the same conditions, MakerDAO would use its trust arm to link the capital available at Cogent Bank with MakerDAO\u2019s Dai (DAI) stablecoin. The trust entity would be responsible for ensuring DAI minting and destruction from the vault, as well as managing the partnership with the bank. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/6c34f312-3ffa-4128-8d84-1348c167d3a3.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Cash flow diagram, Maker Vault\/Cogent Bank. Source: MakerDAO&#8217;s forum<\/em><\/figcaption><\/figure>\n<p>The DeFi protocol would gain exposure to the credit market in at least eight categories, including commercial real estate, industrial, life insurance, consumer and public finance, with loans issued mostly on a fixed-rate basis.<\/p>\n<p>Among the revenue sources for MakerDAO are fees associated with maintaining the vault, minting DAI, and yields. The benchmark 30-day average secured overnight financing rate\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newyorkfed.org\/markets\/reference-rates\/sofr-averages-and-index\">stood<\/a> at 4.15% as of Jan. 5. <\/p>\n<p>Before its acquisition in 2018, Cogent Bank was known as Pinnacle Bank. The Florida bank has $1.3 billion of assets under management and is insured by the Federal Deposit Insurance Corporation. According to the company, loans originated in the first three quarters of 2022 totaled $602 million and summed $873 million in 2021. <\/p>\n<p>In a bid to endure the crypto winter in 2022, MakerDAO disclosed a governance process for its first collaboration with a traditional bank, Huntingdon Valley Bank. At that time, the DeFi protocol announced plans to onboard other banks depending on the results of its integration with HVB. <\/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-voting-on-100m-loan-participation-with-florida-commercial-bank\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; MakerDAO voting on $100M loan participation with Florida commercial bank &#8220; Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between\u00a0decentralized finance (DeFi) and traditional finance.\u00a0 As per MakerDAO\u2019s governance forum, Cogent Bank \u2014 a Florida-based commercial bank \u2014 is proposing to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":553331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/bc246f0a-b5c8-40d5-a58d-397abf5c9c01.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,77595,76700,71939,117],"class_list":["post-553330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-lending","tag-makerdao","tag-banks","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/553330","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=553330"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/553330\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/553331"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=553330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=553330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=553330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}