• MakerDAO voted in favor of a 2% extra yield income from Yearn Finance.
• The proposal centered around a DeFi strategy to help Maker earn an annual 2% yield, which would also help with PSM USDC reserves and transfer.
• MakerDAO’s Total Value Locked (TVL) increased by 20.42%, DeFi Llama’s data showed.

MakerDAO has recently voted in favor of a 2% extra yield income from Yearn Finance. This proposal centers around a DeFi strategy to help Maker earn an annual 2% yield, which would also help with PSM USDC reserves and transfer.

The vote showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the „Yearn to earn Yield“ proposal. Maker Governance is also voting to approve or reject the offboarding of the USDC-A, USDP-A, and GUSD-A vault types.

The approval of the proposal has meant that MakerDAO has added another means to generate income and add to its reserves. Despite the compliance, Maker remained second in the DeFi Total Value Locked (TVL) standings. Nevertheless, MakerDAO’s TVL increased by 20.42%, according to DeFi Llama’s data.

At press time, the MakerDAO TVL was $7.5 billion, which is massively down from its 2022 All-Time High (ATH). On 23 January, the governance arm of the DAI stablecoin developers put out another offer for voting, which points to the offboarding of the USDC-A, USDP-A, and GUSD-A vault types.

Overall, the MakerDAO community has shown its trust and confidence in the Yearn Finance protocol by voting in favor of the 2% extra yield income proposition. This could potentially lead to a growth in its Total Value Locked (TVL) and help to increase its reserves. Although Maker is still not at its All-Time High, it remains one of the most popular DeFi protocols and will likely continue to evolve and progress.