MakerDAO RWA assets reach over $3 billion
According to the latest figures from Wu Blockchain’s MakerBurn stats page, $101 million in MakerDAO RWA assets were added to the DAI escrow fund in the last 24 hours. This amount of assets was collected through Monetalis Clydesdale, BlockTower Andromeda and New Silver.
MakerDAO added another $101 million in RWA assets over the past 24 hours through Monetalis Clydesdale, BlockTower Andromeda, and New Silver. This is the seventh increase this month. Currently, total RWA assets in MakerDAO have exceeded $3.1 billion. https://t.co/Olej0fYTRB
— Wu Blockchain (@WuBlockchain) September 27, 2023
At the time of writing, MakerDAO’s RWA assets stood at $3.1 billion, of which $1.28 billion is in Andromeda’s Vault. The transaction is the latest step in Maker’s strategy to diversify the assets backing the $5.3 billion stablecoin DAI by increasing the role of traditional financial assets such as government bonds in the reserve.
The trend of shifting towards traditional assets is becoming increasingly apparent, especially in stablecoin projects. Frax Finance also recently announced a proposal to use sFRAX to benefit from the large sources of income from government bonds.
Stablecoins shift to traditional assets
MakerDAO’s increased focus on risk-weighted assets is a positive sign for DAI’s stability. By backing DAI with a variety of assets, including government bonds, MakerDAO makes DAI more resilient to market fluctuations.
This trend is also likely to have a positive impact on the overall stablecoin market. As more stablecoins shift to using risk-weighted assets as collateral, the entire market will become more stable and reliable.
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