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DeFi

MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI

September 20, 2022 - Around 2 mins mins to read
The MakerDAO Governance has approved a proposal to include the GnosisDAO (GNO) token as new collateral for the DAI stablecoin.
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI 3

According to the voting website, participants in support of the motion voted with a total of about 70,000 Maker (MKR) tokens. The idea received a 77% approval rating as a result of this.

The affirmative outcome of the DAO vote does not automatically imply that GNO will become collateral for DAI. According to the bid paper, Core Units will undertake risk, technical, and oracle evaluations for GNO.

Following these evaluations, there will be two following votes, one by MakerDAO delegates and one by MakerDAO executives. GNO will be incorporated as collateral in the Maker Protocol only at the completion of this procedure.

MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI 4

According to the proposal, integrating GNO into DAI’s multi-collateral suite will help MakerDAO. DAI is the primary stablecoin on the Gnosis chain, Gnosis’ EVM-compatible blockchain. It is also used to pay chain transaction fees.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI

The MakerDAO Governance has approved a proposal to include the GnosisDAO (GNO) token as new collateral for the DAI stablecoin.
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI 7

According to the voting website, participants in support of the motion voted with a total of about 70,000 Maker (MKR) tokens. The idea received a 77% approval rating as a result of this.

The affirmative outcome of the DAO vote does not automatically imply that GNO will become collateral for DAI. According to the bid paper, Core Units will undertake risk, technical, and oracle evaluations for GNO.

Following these evaluations, there will be two following votes, one by MakerDAO delegates and one by MakerDAO executives. GNO will be incorporated as collateral in the Maker Protocol only at the completion of this procedure.

MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI
MakerDAO Governance Agrees To Propose To Add GnosisDAO Token As Collateral For DAI 8

According to the proposal, integrating GNO into DAI’s multi-collateral suite will help MakerDAO. DAI is the primary stablecoin on the Gnosis chain, Gnosis’ EVM-compatible blockchain. It is also used to pay chain transaction fees.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News