Stablecoin issuer Paxos proposed paying a steady fee to decentralized finance giant MakerDAO for holding up to $1.5 billion of Pax USD (USDP) stablecoin among its reserves.

According to a proposal posted in Maker’s governance forum on Thursday, Paxos solicited MakerDAO to increase the maximum amount, also known as a debt ceiling, of USDP to $1.5 billion from the current $450 million in Peg Stability Module reserve system that backs the value of Maker’s DAI stablecoin.

In exchange, Paxos would pay a daily “marketing fee” anchored to 45% of the Effective Federal Funds Rate (EFFR), which stood at an annual 4.3% at the time of publication. Paxos would only pay the fee if the debt ceiling is at $1.5 billion or higher on any given day. The maximum threshold would increase to $2 billion of USDP in 2024, per the proposal.

Paxos estimated that the facility would generate some $29 million of extra income annually for Maker if used at full capacity. The MakerDAO community will first discuss the proposal then put it to a vote.