Societe Generale Withdraws $7M Worth of DAI From MakerDAO Vaults for the First Time

Société Générale used its MakerDAO vault to withdraw $7 million worth of DAI for the first time, Blockworks reported. In August 2022, the MakerDAO governance community agreed after a unanimous vote to add Societe Generale – Forge, a regulated subsidiary of Societe Generale, to its vaults with a $30 million DAI credit line. The vault is backed by 40 million euros worth of native securities security tokens “OFH Tokens” issued on Ethereum.