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MakerDAO Considers $600M Investment in USDe and sUSDe via Morpho Labs

MakerDAO is currently reviewing a proposal to allocate a notable portion of its stablecoin, DAI, into USDe and its staked version, sUSDe, both developed by Ethena Labs.

  • MakerDAO considers investing 600 million DAI in USDe and sUSDe through Morpho Labs, potentially boosting Ethena's total value locked.
  • Early data indicates strong demand for USDe pools in the Morpho Spark DAI vault, driven by appealing rewards and ENA token opportunities.

DeFi project MakerDAO is exploring the possibility of investing 600 million DAI into USDe and staked USDe (sUSDe) through the DeFi lending platform Morpho Labs. MakerDAO is currently reviewing a proposal to allocate a notable portion of its stablecoin, DAI, into two assets: USDe and its staked version, sUSDe, both developed by Ethena Labs, a renowned stablecoin developer.

As highlighted by Ethena's Head of Growth, Seraphim Czecker, the approval by the MakerDAO community could significantly boost the total value locked in Ethena, aligning with the company's internal growth forecasts.

“Using the lowest of the above thresholds yields 600 million maximum recommended exposure to USDe. This will scale up gradually as Ethena grows, but for the time being we believe it is prudent to cap total allocation at this level,” reads the proposal. 

Initial findings from the Morpho Spark DAI vault show strong demand. Users favor USDe pools over sUSDe, especially those with higher loan-to-value (LLTV) ratios. This preference likely stems from attractive point rewards and the opportunity to earn ENA tokens through USDe, suggesting a strategic shift toward USDe.


Edited by Harshajit Sarmah

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