Insights into MakerDAO Performance Post Updates ๐
Recently, MakerDAO shared details on how the Maker Protocol has been faring following significant changes. The introduction of the Accelerated Proposal and the direct deposit module (D3M) to Sparkโs Metamorpho Vault has had a noticeable impact on the ecosystem.
Increased DAI Supply And Demand ๐
Key metrics indicate the effects of the protocol changes, with the current DAI supply in circulation approaching 5 billion, showing a growth of around 300 million in the last month. This growth highlights continuous demand for the stablecoin.
- The Dai Savings Rate has risen significantly since the implementation of the Accelerated Proposal.
- Approximately 1.54 billion DAI is currently deposited in the Dai Savings Rate, with around 976 million DAI as sDAI, showcasing a deposit increase of about 400 million DAI.
Thriving MakerDAO Ethereum Vaults ๐ฐ
The Morpho DM3, a new addition to the MakerDAO ecosystem, allows the Morpho Vault to mint DAI. Currently, the lending pool has deployed 200 million DAI, projected to generate about 50 million in annual income for the Maker Protocol, making it one of the top core vaults in terms of annualized fees.
- The ETH-C vault within the MakerDAO ecosystem holds the largest value locked in crypto collateral at approximately $1.88 billion, generating around $43 million in annual fees.
- Spark D3M, supplied with about 970 million DAI, is expected to generate an annual income of approximately 28 million.
Positive Impact of Changes on Maker Protocol ๐
The recent developments, including the increase in DAI supply, growth in the Dai Savings Rate, expansion of collaterals, and introduction of different vault types, have positively influenced the Maker Protocolโs growth and progress.
Challenges Despite Growth in MakerDAO Ecosystem ๐
While MakerDAOโs ecosystem has expanded, the native token MKR has witnessed a continual 5.9% price decrease over the last two weeks. In the past seven days alone, there has been a notable 17% drop in the tokenโs price, currently standing at $3,355.
- Token Terminal data shows positive trends, with the protocolโs market capitalization rising by 28% in the last month to $3.3 billion.
- Trading volume for the MKR token has surged to $5.9 billion, marking a 119% increase over the same period.
Hot Take: Stay Informed and Engaged With MakerDAO Updates! ๐ฅ
As a token holder or enthusiast of MakerDAO, monitoring the protocolโs performance, market trends, and ecosystem changes is essential to make informed decisions and stay engaged with the latest updates.
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