• no ads
  • no ads

Maker Considering Adding Gemini and Binance USD as Collateral

The governance community of decentralized credit protocol Maker will undertake a final vote on whether to approve Gemini USD and Binance USD as collateral on the platform, after an initial vote took place on August 17.

  • An initial vote to check the feasibility of supporting Gemini USD and Binance USD was approved on August 17, with a final vote to take place on an unannounced date
  • Maker’s governance facilitators asked users to vote on 11 different tokens to determine which ones were the most popular choice for addition as collateral
  • While GUSD and BUSD were selected, several other tokens also displayed popularity, including REN, TrueGBP, TrueAUD, TrueCAD and the UniswapV2 USDC-ETH Liquidity Token
  • Maker officials have stressed that this does not guarantee that the two tokens will be supported as collateral 
  • Maker approved Kyber Network (KNC) and 0x (ZRX) as collateral in late June 2020, just a few weeks after approving two real world assets as collateral
  • In addition to the aforementioned tokens, Maker’s current list of approved DAI generating tokens includes Basic Attention Token (BAT), USD Coin (USDC), Wrapped Bitcoin (WBTC), TrueUSD (TUSD) and Decentraland (MANA)
Related post