The MakerDAO community has approved the "Opening a Real Assets (RWA) Vault for Coinbase Custody to Participate in the Coinbase Institutional USDC Incentive Program in the Maker Protocol" poll to implement up to 500 million USDC from PSM to the Coinbase USDC Institutional Incentive Program transfer in. Coinbase Custody Vault has a debt limit of 500 million DAI, USDC rewards are calculated monthly, and Coinbase does not charge any fees for participating in the rewards program or hosting USDC. The proposal still needs to be passed by an executive vote. The move is part of MakerDAO’s previous decision to transfer up to 1.6 billion USDC stablecoins to Coinbase’s custody arm.