The MakerDAO community voted to veto the proposal to borrow $100 million from the chartered bank Cogent
ChainCatcher message, related governance proposal shows, the MakerDAO community rejected the proposal to provide a $100 million loan to the state-chartered Cogent Bank. About 73% of voters cast a no vote. It is reported that Cogent Bank is a state-chartered bank headquartered in Florida, USA, with total assets exceeding $1 billion, proposing to borrow up to $100 million in DAI stablecoins from Maker to use the funds to provide loans to its business and industrial clients. Last August, the MakerDAO community voted to approve a similar structured loan to Huntingdon Valley Bank. (CoinDesk)
