TechFlow News — The MakerDAO community voted in favor of establishing a real-world assets (RWA) vault named BlockTower Andromeda. Managed by asset management firm BlockTower Capital, the vault will invest up to $1.28 billion in short-term U.S. Treasury securities using Maker's over-collateralized stablecoin DAI. Maker will pay a 0.15% arrangement fee, with Celadon Financial Group acting as broker and Wedbush Securities serving as custodian.
Simultaneously, the MakerDAO community unanimously decided to remove $500 million worth of the stablecoin Paxos Dollar (USDP) from its reserve assets, citing that holding USDP does not generate income for MakerDAO and harms capital efficiency. This move will significantly impact stablecoin issuer Paxos, as Maker’s treasury holds approximately half of USDP’s $1 billion supply. Since New York regulators required Paxos to halt minting of the stablecoin BUSD, its market cap has dropped from $16 billion to $5 billion.
