June 6, 2023

MakerDAO users will be able to use USDC stablecoin as collateral

Maker Foundation members endorsed the use of USD Coin (USDC) stablecoin as collateral in DeFi platform MakerDAO.

Thus, USDC is the third crypto asset after Ethereum (ETH) and Basic Attention Token (BAT), which can be used to generate the decentralized stable Dai stablecoin.

According to the representatives of the project,USDC's centralized stablecoin has been selected by the community to stabilize Dai and its liquidity problems during the market crash last week.

When using USDC, the annual stabilization commission will be 20%, the minimum debt security ratio is 125%, and the liquidation penalty is 13%.

Recall that recently MakerDAO entered into a partnership with Simplex payment processing so that service users can buy Dai stablecoins with debit and credit cards.