The decentralized finance (DeFi) protocol Maker (MKR) is considering allocating up to $600 million worth of its stablecoin DAI into markets for Ethena’s synthetic dollar, USDe.
Last week, Maker deployed 100 million DAI to Spark’s sUSDe/DAI and USDe/DAI markets on Morpho Blue, a lending protocol on Ethereum (ETH).
The move enabled “overcollateralized scalable liquidity for users interested in increasing their exposure to Ethena’s assets,” according to Maker.
On Monday, a Maker forum contributor recommended that the protocol allocate an additional 500 million DAI into Morpho’s lending infrastructure in the staked USDe and USDe/DAI markets. The proposal, which was published by BA Labs, a member of MakerDAO’s Stability Scope Advisory Council, noted that the allocation could go up to 1 billion DAI in total.
Some members of the crypto community criticized Maker’s new Ethena DAI proposal as being overly risky. Marc Zeller, founder of the Aave Chan Initiative, and
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