×
×
Market Cap:  $336,312,530,71724h Vol:  $98,109,310,960BTC Dominance:  58.4%Cryptocurrencies:  7,125Markets:  29,574

MakerDAO’s battle to keep up with DAI demand

MakerDAO’s battle to keep up with DAI demand

Share

MakerDAO’s battle to keep up with DAI demand

The Block1 month ago
Published on August 04, 2020 07:01 GMT+0edited on August 04, 2020 07:14 GMT+0

Share

Quick Take

  • The supply of the decentralized stablecoin DAI has grown to 379.1 million, up from 134.7 million on July 1st (a 181.4% increase).
  • New demand for DAI has been primarily driven by liquidity mining on Compound and yEarn. Increased demand has led to DAI consistently trading above its targeted $1 peg.
  • Currently, the focus is on changing the parameters of, and adding new, collateral types to keep up with growing demand.

This research piece is available to members of The Block Genesis. You can continue reading this Genesis research on The Block.