Grayscale Introduces MakerDAO Trust, MKR "Builds Pillar"

MakerDAO Trust was launched just 1 week after Bittensor Trust and Sui Trust, adding to Grayscale's portfolio of 20 existing trusts including Near, or Solana.

Less than 1 week after "launching" 2 crypto asset trusts Bittensor Trust and Sui Trust, today "big guy" Grayscale continues to introduce a new Trust to give investors exposure to MKR token of decentralized lending platform MakerDAO.

Like other private offerings of Grayscale, MakerDAO Trust is only available to accredited investors (accredited investors), in addition to the portfolio of 20 crypto-specific trusts including Bitcoin Cash (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum Classic (ETC), and Solana (SOL).

MakerDAO is an Ethereum lending project launched in 2014 that allows users to borrow a stablecoin called DAI by overcollateralizing their assets. MakerDAO is also a decentralized autonomous organization (DAO) as instead of being run by a group of developers or a single entity. MKR token holders can participate in decision-making and vote on proposals.

It can be said that MakerDAO is one of the largest protocols in the DeFi space, currently managing over $7 billion in cryptocurrencies and Real World Assets (RWA) including short-term US Treasury bonds and managing the largest decentralized stablecoin at the moment, DAI, attracting interest from major projects in the RWA space including BlackRock's BUIDL and Securitize funds, Ondo Finance, Superstate.

The protocol is currently undergoing a major overhaul called the "Endgame Plan" outlined by founder Rune Christensen, which includes the release of alternative versions of MKR and DAI.

The announcement of Grayscale opening the MakerDAO Trust comes at a time when the project has just approved a plan to move USDC storage with a third-party custodian to the LitePSM model to increase decentralization and reduce regulatory risks, and is awaiting approval of a proposal to lower the interest rate of the DAI stablecoin DSR to 7%.

The news of the MakerDAO Trust has caused related tokens to quickly "build columns" in the last 24 hours. The MKR token quickly "built columns" in the green with a 9% increase at the time of writing, with no signs of "stopping".

Despite not being involved in the news announced by Grayscale, MakerDAO competitor Curve Finance also showed its "unyielding" stance, with the AMM DEX platform's CRV token recording a 13% increase following the news.