The MakerDAO project is voting on a proposal to use the reserves to invest 500 million Dai (a stable coin pegged to the dollar) in a combination of US government bonds and corporate bonds, writes Cointelegraph.
MakerDAO runs the Maker Protocol, which issues the USD-pegged Dai stable coin in exchange for user deposits in Ethereum, WBTC, and 30 other cryptocurrencies.
The new proposal speaks to MakerDAO's plans to expand beyond the realm of cryptocurrencies and generate income from traditional "safe" investments. Voting will last until June 30th. Once the decision is made, the lender Monetalis will provide MakerDAO with access to the necessary financial instruments.