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Sky Profile picture
@SkyEcosystem
Jun 7, 2022 • 10 tweets • 5 min read • Read on X
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State of Dai 📊 — Our weekly roundup on how Dai has performed over the last week.

Let's go!

🧵

1/
Dai trading activity has cooled down compared to last week.

Fewer off-peg trades. Back to normal quickly.

As always, Dai peg is strong, safe, and resilient. ⚖️

2/
Slightly less TVL this past week at $10.4 billion (~300 million less).

The Maker Protocol remains the DeFi protocol with the highest total value locked! 🏆

GUNIV3DAIUSDC1-A just appeared on the collateral pie charts 👀

Let's go deeper

🔍

3/
📈 237 million Dai minted from GUNIV3DAIUSDC1-A vaults (+6 million over the last week)

📈 664.7 million Dai minted from GUNIV3DAIUSDC2-A vaults (+42 million over the last week)

📈 Total is 901.7 million Dai minted from G-UNI vaults (13% of all Dai).

wen 1 billion?

4/
Payoffs and borrows are fairly balanced.

469.9 million Dai repaid.

605.6 million Dai minted.

+135 million net mints. 💸

5/
Weekly vaults are trending towards the opening.

ETH-C and WBTC-C are top gainers.

WSTETH-B is picking up six new vaults! 🚀

6/
Where is Dai?

EOA 52.8% (Love for Dai holders 💚)
DEX 15.5%
Lending 10.3%
Bridges 10.7%
Other 9.6%
CeFi 1.0%

7/
Dai jumped into @StarkWareLtd's StarkNet!

99.9k Dai running on StarkNet at the time of writing — This represents +16% of its TVL!

#L222 is happening. This is just the beginning! 🌟

8/
@StarkWareLtd This chart is very interesting.

What vault holders initially spend their Dai on? 🤔

According to this calculation, so far this month, +95% of newly minted Dai is being transferred to decentralized exchanges.

Farmers LPing or traders swapping?

9/
@StarkWareLtd Want to learn more?

Find the full version in the Maker Forum and drop your comments!

👇

forum.makerdao.com/t/state-of-dai…

10/

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More from @SkyEcosystem

Sky Profile picture
Oct 3
sUSDS: non-custodial saving rewards.

When you supply USDS to the decentralized Sky Savings Rate (SSR) module, you receive sUSDS.

These sUSDS tokens are the digital record of your supplied USDS and automatically accumulate your earned rewards, in accordance with the current SSR decided by Governance.

When you choose to redeem your sUSDS for USDS, which you can do anytime, the total USDS you will receive will equal the amount you originally supplied, plus any additional USDS accumulated as rewards.
How does sUSDS work?

• Supply USDS: Supply USDS to the SSR through app.sky.money/?widget=savings, and receive sUSDS tokens as proof of your deposit. The SSR module is a decentralized component of the Sky Protocol, ensuring that you maintain full control over your assets at all times.

• Earn rewards: As the Sky Protocol adds more USDS to the pool, the value of your sUSDS balance grows automatically.

• Redeem anytime: Withdraw your USDS and rewards whenever you want. No fees or restrictions, aside from the blockchain gas fee.
Some of the Sky Protocol’s features, such as Sky Token Rewards and Sky Savings Rate, are not accessible through Sky.money in certain jurisdictions, including the US. For details on eligibility, please review our Terms of Use: docs.sky.money/legal-terms
Read 4 tweets
Sky Profile picture
Sep 18
.@ChronicleLabs points are now live, exclusively on the Sky Protocol, and can be accessed via the app.

Through the Sky Token Rewards feature, users can supply their USDS and start earning Chronicle Points, later claimable for Chronicle tokens at a rate of 10 points → 1 Chronicle token (CLE)

What makes Chronicle a key infrastructure player in the DeFi space? Let’s take a closer look.Sky.money
Chronicle is currently the second-largest Oracle network by Total Value Secured (TVS), securing $22 billion at its peak.

It's also the longest-operating Oracle protocol and the first Oracle on Ethereum, originally invented to secure the Maker Protocol and Dai stablecoin.
Today, Chronicle’s decentralized Oracle network is utilized by major projects, including Circle, Coinbase, M^0, Centrifuge, Gnosis Pay, Morpho, and Euler, raising the industry standard for Oracles and the overall security and resilience of DeFi.
Read 5 tweets
Sky Profile picture
Sep 18
USDS and SKY are live on Ethereum along with DeFi features powered by the decentralized Sky Protocol, all available at . Sky.money
Upgrade to USDS and SKY.

Use the Upgrade feature to go from DAI to USDS at a 1:1 rate, unlocking all the new features within the Sky Ecosystem, such as Sky Token Rewards and the Sky Savings Rate.

You can also upgrade your MKR to SKY at a rate of 1 MKR → 24,000 SKY.

Upgrading is optional, and you can convert USDS and SKY back to DAI and MKR anytime.
Trade your crypto for USDS or SKY to access Sky's features.

Powered by @CoWSwap protocol, trading through optimizes liquidity and protects your transactions from MEV, ensuring no lost value.

Get USDS and SKY with the most user-protective trading protocol in DeFi.Sky.money
Read 6 tweets
Sky Profile picture
Sep 3
Sky Aave Force, gearing up for deployment.

An unprecedented initiative by @SkyEcosystem and @Aave to accelerate the next wave of DeFi adoption.Image
Conceived by @RuneKek and @StaniKulechov in collaboration with @phoenixlabsdev and @AaveChan, the proposal includes:

• Integration of USDS and sUSDS on the Aave V3 market with native token rewards.
• SKY-sUSDS converter on the Aave interface.
• SPK token airdrop for Aave market suppliers.
• Sky Protocol-powered USDS liquidity injection into Aave’s stETH market.
Dive into the details.

Sky forum proposal:

Aave forum proposal: forum.makerdao.com/t/spark-propos…
governance.aave.com/t/temp-check-o…
Read 4 tweets
Sky Profile picture
Aug 27
Sky is here.

The best and easiest place to get rewarded for saving without giving up control.

Discover the upgraded tokens, new features, and boosted Sky Token Rewards for early sign-ups. Follow this thread for the latest news and updates about SkyLaunch.
With the launch of Sky, the upgraded tokens are introduced:

• $SKY: The upgraded version of MKR and governance token of the Sky ecosystem. Each MKR can be upgraded to 24,000 SKY.

• $USDS (Sky Dollar): The upgraded version of DAI, USDS is a stablecoin that gives access to native token rewards.
Powered by the decentralized Sky Protocol, will offer seamless and non-custodial access to Sky’s tokens and rewards through an exceptional user experience:

• Getting $USDS: Upgrade your DAI to USDS at a 1:1 ratio. will also allow seamless swapping of ETH, USDC, and USDT into USDS.

• Sky Token Rewards: Get SKY tokens by supplying your USDS to the Sky Protocol through the app. You always maintain control over your assets, as doesn’t custody them, allowing you to withdraw at any time without restrictions. Future updates may enable users to earn tokens from other decentralized projects, if accepted by the decentralized governance of the Sky protocol.

• Sky Savings Rate: Grow your Sky Dollar savings through a reliable system that has successfully secured billions of dollars for years.Sky.money
Sky.money
Sky.money
Sky.money
Read 6 tweets
Sky Profile picture
May 14
Spark, the first SubDAO set to launch.

Spark emerges as the pioneer among Maker SubDAOs, shaping the future of MakerDAO’s Endgame roadmap.

It fosters a dedicated and independent community that leverages the power of MakerDAO to develop innovative DeFi products that address proven market demands.

The highly anticipated Launch Season reaches its peak with the arrival of SparkDAO, along with its native token SPK and a variety of SPK token farming programs

Learn more about what SparkDAO has to offer. ↓Image
Spark App: The Powerhouse of DeFi

Spark's main offerings include SparkLend and Cash & Savings, available on .

• SparkLend enables users to borrow DAI at large scales using high-liquidity assets, with a best-in-class user experience.

• Spark Cash & Savings introduces a decentralized, on-chain banking-like product that connects cash and savings accounts’ features with the Dai Savings Rate (DSR). It is accessible with DAI, USDT, and USDC.app.spark.fi
SPK Tokenomics: Pre-farming the airdrop

SparkLend users can participate in pre-farming activities on to start earning SPK tokens in advance.

The current SPK pre-farming program will be active until May 20th, 2024. Earned SPK tokens will be distributed at the Spark Launch.

Users of SparkLend can track their accrued SPK tokens at .

Find more details about the pre-farming airdrop here: spark.fi
spark.blockanalitica.com/v1/ethereum/ai…
forum.makerdao.com/t/proposed-spa…
Read 8 tweets

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