# Dai Stablecoin issuer MarkDAO votes

By [wemhd](https://paragraph.com/@wemhd) · 2022-11-26

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[MarkDAO](https://crypto.news/makerdao-governance-mkr-holders-to-vote-on-two-critical-proposals/), the DAI stablecoin issuer, passed [a governance proposal](https://vote.makerdao.com/polling/QmTNMDfb#vote-breakdown) to remove renBTC from being used as collateral and reduce exposure to what it described as a risky asset.

The contagion effect of the FTX and its research collapse have compelled a lot of crypto projects to cut ties and simultaneously carry out different face-saving measures. The current action of MarkDAO is one such measure.

Recall that the RenBTC is a wrapped bitcoin asset developed by the Alameda Research-backed project called Ren Protocol.

To mint a Dai stablecoin in MarkDAO, users must first provide a proportional amount of cryptocurrency collateral. One such collateral is the RenBTC tokens which can be stored in vaults

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*Originally published on [wemhd](https://paragraph.com/@wemhd/dai-stablecoin-issuer-markdao-votes)*