MakerDAO Proposes to Allocate 600M $DAI to Ethena's USDe

Reported by The Block, MakerDAO, a decentralized finance (DeFi) project, is considering allocating 600 million DAI into USDe and staked USDe (sUSDe) via the DeFi lending protocol Morpho Labs.

Both USDe and sUSDe are issued from the stablecoin developer Ethena Labs. Though currently in a proposal state, should the MakerDAO community confirm the move, it would put Ethena total value locked growth "on track with internal expectations," wrote Ethena Head of Growth Seraphim Czecker on X.

"Using the lowest of the above thresholds yields 600 million maximum recommended exposure to USDe," according to the proposal. "This will scale up gradually as Ethena grows, but for the time being we believe it is prudent to cap total allocation at this level."