The result of MakerDAO vote could have a significant impact on Gemini and its $GUSD stablecoin, as Maker’s $DAI reserve holds roughly 88% of the token’s supply. sndr_krisztian reports
Less than 24 hours before the vote’s end, roughly 94% of those who have already voted are in favor of the proposal to cut GUSD. However, a similarin January saw a late rush of votes in favor of retaining GUSD, pushing that side to a razor-thin 50.85% majority.
The vote is significant for GUSD’s future, as Maker holds roughly 88% of the stablecoin’s $568 million circulating supply. Maker backs the value of the $4.5 billion DAI by holding cryptocurrencies such as Circle’s USDC and GUSD in the reserve, and increasingly by investing in real-world assets like government bonds.
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