MakerDAO votes to maintain USDC as main collateral, rejects ‘diversification’ plan By Cointelegraph

MakerDAO, the decentralized autonomous group that governs the Dai (DAI) stablecoin, has voted overwhelmingly to maintain (USDC) as the first collateral for Dai. An alternate proposal to “diversify” collateral into Gemini Greenback (GUSD) and Paxos Greenback (USDP) was rejected in a 20% to 79% vote, based on the proposal’s official web page.

Vote totals for the proposal to normalize PSM Parameters. Supply: MakerDAO official web site

Within the proposal posted on March 17, the MakerDAO Threat Core Unit instructed that the danger of a cascading financial institution run within the U.S. has been lowered, because of responses from the federal authorities. In consequence, the danger of utilizing USDC as collateral “has declined considerably since final week and additional solvency considerations or depegs should not anticipated at the moment.”