The Maker governance community is all set to vote on the addition of Balancer (BAL) and yearn.finance (YFI) as collateral for generating stablecoin DAI, according to a blog post published on October 12.
- The Maker team has added proposals for the addition of BAL and YFI, with voting closing on October 15
- In both cases, voters have virtually all voters have voted to add the tokens as collateral
- The executive votes will take place within 30 days following the passing of the proposals
- Maker has added several new tokens as collateral in 2020; in June 2020, it approved Kyber Network (KNC) and 0x (ZRX) as collateral in late June 2020, and two real world assets as well
- It has also added USD Coin (USDC), Wrapped Bitcoin (WBTC), TrueUSD (TUSD) and Decentraland (MANA) as collateral
- The YFI token has dropped from its ATH of $43,678 in mid-September, accelerated by a $15 million hack executed on Eminence.finance (EMN), an experimental project being developed by YFI founder Andre Cronje