MakerDAO community votes to set up a treasury to invest up to $1.28 billion in U.S. Treasuries

PANews reported on June 2 that according to a vote that ended on Thursday, the MakerDAO community unanimously agreed to set up a real-world asset (RWA) treasury called BlockTower Andromeda. The treasury is managed by asset management company BlockTower Capital and will invest up to $1.28 billion in short-term U.S. Treasury bonds, with funds coming from Maker's over-collateralized stablecoin DAI. Maker will pay BlockTower Capital a 0.15% arrangement fee. Celadon Financial Group will act as a broker and assets will be held by Wedbush Securities. Maker has previously purchased $1.1 billion in government and corporate bonds through a treasury managed by asset management company Monetalis Clysdale.