to allocate $100 million to development and testing of tokenized US Treasury bond products. The rationale provided by the strategic finance core member is that tokenized T-bill offerings have expanded since MakerDAO first expressed interest in February 2022.
Exploring asset-liability management in such products is key to MakerDAO’s success, according to Steakhouse. The contributors of the strategic finance core unit state that the $100 million allocation is only a first step in tokenized T-bill products.$100 million is a large sum to invest in experimentation that is considered only preliminary or a “first step,” as described in the proposal
Massive regulatory risk by paving the way for sanctioned individuals to freely access a T-Bill-backed instrument without a whitelisting processcommunity members in favor of the proposal asked for specific criteria or benchmarks to measure the success of the project and a dedicated timeline for implementation. supply on exchanges dropped nearly 13% during the past weekend.
MKR supply increased from 96,565 to 97,119 between September 4 and early on Friday. Typically, an increase in supply of the token fuels a bearish narrative for its price as larger volume of the asset is available for sale on centralized exchanges. At the time of writing, MKR price is $1,140. he token is recovering from its August 31 intraday low of $1,031.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.