- MakerDAO is considering allocating up to $600 million DAI into sUSDe and USDe via the Morpho Labs vault.
- Seraphim thinks MakerDAO’s allocation could positively impact Ethena TVL’s growth.
- Marc Zeller thinks the proposed allocation is a reckless move by MakerDAO.
According to Seraphim, Ethena Labs’ Head of Growth, MakerDAO is considering allocating up to $600 million DAI into sUSDe and USDe via Morpho Labs vault. Citing a post on the MakerDAO forum, Seraphim noted that the allocation could go up to $1 billion, with the Ethena TVL growth on track with internal expectations.
Not a joke: @MakerDAO considering allocating up to $600m DAI into sUSDe and USDe via @MorphoLabs with possibility to go up to $1 billionEthena TVL growth is on track with internal expectationshttps://t.co/kKEhPoDwQm pic.twitter.com/F1QP1xPBFW
— Seraphim (@MacroMate8) April 1, 2024
In the cited post, a member of the BA Labs team, identified as monet-supply, highlighted the early performance data from the Morpho Spark DAI as the reason behind the recommendation of allocation adjustments. The poster noted that the Spark DAI vault saw strong demand almost immediately upon launch.
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