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.
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.
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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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.
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.
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
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