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. Related Reading: MakerDAO Could Replace Governance Token, Will It Provide Enhanced Incentives? Founded by prominent DeFi developer Andre Cronje, Yearn finance is a yield aggregator built on the Ethereum blockchain, allowing users to deposit crypto assets in the service in exchange for yield or interest over some time. With a total of 95,666.284 of Maker’s native token, MKR cast in the vote, approximately 68,462 MKR, which accounts for 71.56%, voted in favor of d ..
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