Crypto platform MakerDAO has announced an open competition for investment of $1 billion in tokenized offerings of US government bonds. Contenders include BlackRock-Securitize, Ondo Finance and Superstate.

MakerDAO's plan involves a significant shakeup in reserve strategy as the protocol enters a new era under the leadership of founder Rune Christensen.

An open competition for the distribution of $1 billion was announced at the ETHCC in Brussels and in a post on public administration. Applications will begin on August 12.

The investment will be financed by reallocating $500-500 million in reserves from vaults managed by Monetalis Clydesdale and Andromeda BlockTower.

MakerDAO's investment could be a big boost for tokenized real asset protocols due to its sheer size.