DAI’s supply has been growing at a rapid pace since early March, rising more than 20%.
DAI’s supply has been growing at a rapid pace since the beginning of March. Its supply climbed from 4.42 billion on March 9 to 5.48 billion on May 12, a 24% jump in just over two months.
The raw circulating supply of DAI has been on a downward trend for a while, primarily because people are burning DAI to deposit into the DSR, which nets a burn, but that DAI still exists in the form of sDAI. But the 8% interest could not last forever, and within just two days over 20% of DAI was parked in the DSR, triggering an automatic drop to 5.8%, which was still sizable. Maker’s founder proposed dropping the rate to 5% to allow the DSR to be higher for longer, which went into effect.
Markets Stablecoins The Block Dai
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Virginia Hosting Kansas State Guard Transfer Dai Dai AmesKansas State freshman guard transfer Dai Dai Ames is reportedly taking an official visit to UVA men's basketball on Monday.
Read more »
The Larger-Than-Life True Story Behind Netflix's 'Heeramandi'The cast of Heeramandi: The Diamond Bazaar sitting on a dais in the Netflix series
Read more »
10 in-demand remote jobs companies are hiring for right now—many pay over $100,000Indeed reports a 40% increase in remote job openings between March 2023 and March 2024.
Read more »
As Indiana Fever introduce WNBA's top draft pick, Caitlin Clark looks like a naturalWhen Caitlin Clark walked to the dais Wednesday in Indianapolis, she looked like a natural.
Read more »
MakerDAO and Aave’s DeFi conflict reopens over DAI’s perceived risk growthAave and MakerDAO have had a long-running rivalry that recently reopened after DAI indirectly added exposure to a controversial stablecoin.
Read more »
Ethereum stablecoin volume shattered its monthly record in April, thanks to DAIFlash loans using DAI appear to have pushed Ethereum stablecoin volumes to their highest monthly levels seen yet.
Read more »