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Jun 7 β€’ 10 tweets β€’ 5 min read
State of Dai πŸ“Š β€” 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. βš–οΈ

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! πŸ†

GUNIV3DAIUSDC1-A just appeared on the collateral pie charts πŸ‘€

Let's go deeper

πŸ”

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

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

πŸ“ˆ 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. πŸ’Έ

5/
Weekly vaults are trending towards the opening.

ETH-C and WBTC-C are top gainers.

WSTETH-B is picking up six new vaults! πŸš€

6/
Where is Dai?

EOA 52.8% (Love for Dai holders πŸ’š)
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 β€” 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? πŸ€”

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!

πŸ‘‡

forum.makerdao.com/t/state-of-dai…

10/

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More from @MakerDAO

Maker Profile picture
Jun 8
The Real World Finance Core Unit has published the Societe Generale Risk Assessment.

Societe Generale - Forge (SG Forge), a @SocieteGenerale subsidiary dedicated to digital asset projects, proposed to take a 30 million DAI loan from MakerDAO.

A recap

🧡

1/
@SocieteGenerale In short, this is the proposed transaction:

MakerDAO provides a 30 million DAI loan to SG Forge, enabling SocGen to refinance €40 million of digital covered bonds (OFH Tokens) on its balance sheet.

The DAI loan will be backed by a pledge of the OFH Tokens.

2/ Image
@SocieteGenerale The OFH Tokens, issued by SocGen in May 2020, are backed by:

βœ… A general corporate obligation of SocGen which is currently rated A/A1/A by Fitch, Moody’s, and Standard & Poor’s respectively

βœ… A pool of French home loans that are rated Aaa/AAA by Moody’s & Fitch.

3/ Image
Read 11 tweets
Maker Profile picture
Jun 8
The latest Executive Proposal is live on the Maker Governance portal!

We encourage $MKR holders and Delegates to consider voting on this Executive Proposal if they support the following changes.

πŸ‘‡πŸ—³

1/ Image
1️⃣ MOMC Parameter Changes

The following parameter changes, proposed by the MakerDAO Open Market Committee, will be made if this Executive Proposal passes:

2/
⬇️ Maximum Debt Ceiling (line) Decreases

β€’ WSTETH-A from 300 million DAI to 200 million DAI.

β€’ DIRECT-AAVEV2-DAI from 300 million DAI to 100 million DAI.

β€’ LINK-A from 100 million DAI to 50 million DAI.

3/
Read 12 tweets
Maker Profile picture
May 30
✨ Enabling the StarkNet Dai Bridge ✨ Now available on starkgate.starknet.io!

The first big step into the next scalability era is here with Maker, Dai, and StarkNet.

StarkNet Dai Bridge allows Dai to be moved both ways between Ethereum and StarkNet.

@StarkWareLtd 🀝 Dai
@StarkWareLtd StarkNet is a generalized computation platform that runs as a Layer 2 on top of Ethereum.

It is implemented as a zkRollup, meaning that the result of the computation of L2 transactions is periodically committed to the L1 Ethereum contract.
@StarkWareLtd The validity of the computation is guaranteed by sending a zero-knowledge proof (STARK proof) alongside the state update that is verified by an L1 Verifier contract.
Read 9 tweets
Maker Profile picture
May 18
State of Dai πŸ“Š

Let's find out how Dai behaved during the last week.

🧡

1/
πŸ”„ This is the trade activity of Dai.

As expected, Dai perfectly defended its peg during the market downturn.

Very few trades below and above the peg, but, a lot of activity.

2/
Actually, the @CurveFinance 3pool settled $2 billion in trading volume just last Thursday.

According to @MessariCrypto, the real volume of Dai during the last week was 4 billion.

Busy week.

3/
Read 10 tweets
Maker Profile picture
May 18
πŸ—³ The latest Executive Proposal is now live!

MKR holders and Delegates are ready to vote for it if they support the proposed alterations to the Maker Protocol.

Let's make a recap

πŸ‘‡

1/ Image
πŸ”€ Core Unit MKR Vesting Transfer

As per their successful MKR budget proposal, a total of 541.47 MKR will be transferred to the Sustainable Ecosystem Scaling Core Unit (SES-001) if this executive proposal passes.

2/
🌐 Foundational L2 Work

To support L2 ➑️ L1 fast-withdrawal functionality and the Maker Teleport, it is necessary to introduce a new module called DssCure and update the existing MCD_END module to interact with it.

These implementations lead to the following changes:

3/
Read 7 tweets
Maker Profile picture
May 16
gm

This is the #MakerUpDaits!

What happened within MakerDAO, the Maker Protocol, and Dai in the last two weeks?

Let's find out.

🧡

1/
Over the past two weeks, market volatility put pressure on the Maker Protocol with major stress tests.

The Dai supply decreased by 2.2 billion.

Several Maker Vaults were closed and the Protocol experienced +200 liquidation auctions of risky collateral.

2/ Image
Specifically, the Maker Protocol executed 257 liquidation auctions during the last two weeks.

These liquidations helped the Protocol cover 28.4 million Dai in risky debt.

On top of that, the Protocol accrued 3.7 million Dai in Penalty Fees.

3/ Image
Read 12 tweets

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