MakerDAO approves the deployment of 100 million USDC in Yearn Finance

ChainCatcher news, according to official news, the Maker DAO community approved a proposal on Monday to deploy up to $100 million of stablecoins (USDC) from its reserves to the DeFi protocol Yearn Finance, with the deposited stablecoins earning yields.

Maker will establish a personal non-custodial vault at Yearn with a cap of $100 million for transferring USDC from the PSM. According to the proposal submitted at the end of November, MakerDAO expects an annual yield of 2% for this strategy. About 72% of voters supported the plan. Additionally, a further "execution vote" is required for the transfer of USDC reserves in the PSM. (source link)