Demex Daily #218: Grayscale Launches MakerDAO Trust for MKR Token Access

What’s Interesting Today:

Grayscale Investments®, the leading crypto asset manager globally, has introduced the Grayscale® MakerDAO Trust, a new investment vehicle that provides access to MKR, MakerDAO's utility and governance token. This Trust is designed to allow investors to benefit from the expansion of the MakerDAO ecosystem, which includes a credit protocol on the blockchain, stablecoins, and tangible assets, aiming to foster a decentralized and permissionless stablecoin system. The Trust is available for daily subscription by both individual and institutional accredited investors and is structured similarly to Grayscale's other single-asset investment products. While Grayscale intends to list the shares of new products on secondary markets, there is no certainty of success, and investors should be prepared for the possibility that shares could trade at significant premiums or discounts to their underlying value.

The Arbitrum community is voting on a proposal to introduce ARB staking through the Tally governance system, aiming to boost the token's utility and governance engagement. The proposal, open until August 15, features a new liquid staking token, stARB, but does not activate fee distributions to stakers yet. Tally, which facilitates DAO governance for major DeFi projects like Uniswap and Aave, highlights the underutilization of ARB tokens in onchain activities. Despite a significant price drop since its launch, ARB has seen a 20% rally since the proposal's introduction, signaling community optimism. Arbitrum remains the largest Ethereum Layer 2 by total value locked, indicating strong fundamentals despite the price challenges.

Trade ARBITRUM ARB-PERP on Demex!