Coinbase releases a governance proposal that could generate $24 million for MakerDAO

According to ChainCatcher, The Block reported that Coinbase has released a proposal on MakerDAO's governance forum to transfer 33% of the $1.6 billion Peg Stability Module (PSM) to a Coinbase Prime custody account, which is expected to increase Maker's revenue by approximately $24 million.

In addition, Maker will pay zero custody fees for the PSM allocated to Coinbase and will be able to freely mint, burn, withdraw, and settle its allocated USDC through Coinbase Prime. (The Block)