???? MakerDAO Achieves Record-Breaking 147% Surge in Annualized...

???? MakerDAO Achieves Record-Breaking 147% Surge in Annualized Income for 2023

According to data from MakerBurn, the decentralized autonomous organization (DAO) MakerDAO has achieved a significant milestone, with its current annualized income reaching a record high of $95 million. This marks a substantial increase of 147% since the beginning of the year, making it the highest level recorded since mid-February 2022. The surge in income can be attributed to DAO’s strategic use of PSM USDC to purchase U.S. Treasury bonds, thereby generating interest income.

MakerDAO, a prominent player in the DeFi ecosystem, is renowned for its stablecoin DAI, which is backed by a diversified collateral portfolio. The DAO operates on the Ethereum blockchain and provides users with the ability to mint and trade DAI in a decentralized manner. As an integral part of the DAO ecosystem, the PSM (Peg Stability Module) USDC facilitates the stabilization of DAI’s value against the U.S. dollar. The recent boost in DAO’s income can be attributed to its decision to utilize PSM USDC to purchase U.S. Treasury bonds. This strategic move has not only increased the DAO’s holdings of U.S. Treasury bonds but has also allowed DAO to generate interest income from these bonds.