MakerDAO proposes to allocate $600 million worth of DAI to USDe and sUSDe.

MakerDAO, a decentralized finance (DeFi) project, is considering allocating 600 million DAI to USDe and staked USDe (sUSDe) through DeFi lending protocol Morpho Labs.

Both USDe and sUSDe are issued by stablecoin developer Ethena Labs. It’s currently in a proposed state, but if the MakerDAO community confirms this move, it will bring Ethena’s total value lock-in growth “in line with internal expectations.” wrote Seraphim Czecker, Head of Growth at Ethena

“Using the lowest of the above thresholds would result in a maximum recommended exposure to USDe of $600 million,” according to the proposal. “This will gradually expand as Ethena grows, but for the time being we believe it is prudent to limit overall allocations at this level.”

According to The Block’s data dashboard, USDe currently holds 1.34 billion tokens, representing 1.74% of the total Ethereum stablecoin supply.

The Block previously reported that Ethena raised $14 million in February at a total valuation of $300 million.

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