{"id":67959,"date":"2022-10-02T14:47:54","date_gmt":"2022-10-02T11:47:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67959"},"modified":"2025-09-07T11:28:08","modified_gmt":"2025-09-07T08:28:08","slug":"gemini-proposes-1-25-annual-yield-on-gusd-deposits-for-makerdao","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gemini-proposes-1-25-annual-yield-on-gusd-deposits-for-makerdao\/","title":{"rendered":"Gemini proposes 1.25% annual yield on GUSD deposits for MakerDAO"},"content":{"rendered":"<p>Gemini co-founder Tyler Winklevoss has put to the MakerDAO community a proposal to accrue an annual percentage rate of 1.25% on deposits in the <a href=\"https:\/\/makerdao.world\/en\/learn\/governance\/module-psm\/\"><span data-descr=\"peg stability module, peg stability module\" class=\"old_tooltip\">PSM<\/span><\/a> in the Gemini Dollar (GUSD) stablecoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">.<a href=\"https:\/\/twitter.com\/Gemini?ref_src=twsrc%5Etfw\">@Gemini<\/a> co-founder <a href=\"https:\/\/twitter.com\/tyler?ref_src=twsrc%5Etfw\">@tyler<\/a> published a proposal on the Maker Forum that aims to contribute to MakerDAO a 1.25% rate on the PSM\u2019s GUSD balance, as long as the PSM\u2019s GUSD average monthly balance is above 100 million GUSD on the last day of the month.<\/p>\n<p>\u2192 <a href=\"https:\/\/t.co\/zcaPmbFdVl\">https:\/\/t.co\/zcaPmbFdVl<\/a><\/p>\n<p>\u2014 Maker (@MakerDAO) <a href=\"https:\/\/twitter.com\/MakerDAO\/status\/1575532326796333065?ref_src=twsrc%5Etfw\">September 29, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>GUSD \u2014 a US dollar-pegged stablecoin, issued by Gemini. In recent months the exchange has expanded the supply of the asset \u2014 in August 2022 the metric <a href=\"https:\/\/u1f987.com\/en\/news\/august-2022-in-figures-bitcoin-correction-miners-revenues-rise-and-defi-liquidity-outflows\">increased<\/a> by 80%.<\/p>\n<p>The Winklevoss proposal envisions an annual percentage rate of 1.25% provided that the average monthly GUSD in the PSM exceeds $100 million. The exchange would bear the costs. According to <a href=\"https:\/\/dune.com\/queries\/1262833\/2209941\">Dune Analytics<\/a>, as of writing the figure stood at $57,600.<\/p>\n<p>The publication notes that the initial initiative runs for three months. The Gemini chief said the firm would decide on extending the period by the end of December.<\/p>\n<p>In addition to the GUSD volume requirement in the PSM, the firm set another condition \u2014 MakerDAO would have to establish a legal entity and undergo KYC to register an account at Gemini. The latter is required to receive assets and place them into the protocol.<\/p>\n<p>Earlier, MakerDAO co-founder Rune Christensen <a href=\"https:\/\/u1f987.com\/en\/news\/makerdao-co-founder-proposes-decoupling-dai-from-the-dollar\">proposed to detach<\/a> the decentralized stablecoin DAI from the dollar.<\/p>\n<p>In September 2022 the cryptocurrency exchange Coinbase proposed transferring <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-proposes-makerdao-move-one-third-of-usdc-to-coinbase-prime\">a third of the USDC in the PSM, worth $1.6 billion<\/a> to Coinbase Prime at a rate of up to 1.5% per year.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gemini co-founder Tyler Winklevoss has put to the MakerDAO community a proposal to accrue an annual percentage rate of 1.25% on deposits in the PSM in the Gemini Dollar (GUSD).<\/p>\n","protected":false},"author":1,"featured_media":67960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[719,2327,1100],"class_list":["post-67959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gemini","tag-gemini-dollar","tag-makerdao"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67959"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67959\/revisions"}],"predecessor-version":[{"id":67961,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67959\/revisions\/67961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67960"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}