Coinbase posted a proposal on MakerDAO’s governance forum proposing to move 33% of Maker’s $1.6 billion Pegged Stability Module (PSM) into a Coinbase Prime custody account, boosting Maker’s revenue by about $24 million. If the proposal passes, Maker will earn $528M at 1.5% APR; Maker will pay zero custody fees for its PSM allocations to Coinbase, and will be able to freely mint, burn, withdraw, and settle their allocations almost instantly through Coinbase Prime USDC. A member of Maker DAO's strategic financial core department (pseudonym adcv) stated that Maker's current PSM asset allocation is severely underinvested, which reduces the protocol's ability to take risks and its attractiveness as a stablecoin.