- Dai adoption grows exponentially at roughly 20% per month with 14,400 addresses holding over 1 Dai
- 1.4 billion Dai was transferred in May
- Decentralized cryptocurrency exchange remains the top use case for Dai, accounting for roughly 70% of total Dai transfers and volume (Eth2Dai, Kyber, Uniswap, etc.)
- Decentralised lending has also grown to account for 13% of Dai activity (Nuo, dYdX, Compound, and Dharma)
- Dai has maintained its $1 peg throughout its existence (despite a 94% fall in ETH price) with a maximum of 4% deviation in 2019
- 71% holders spend Dai within the first week, underscoring the fact that Dai is about usage, not speculation
- 25% users hodl onto Dai regardless of any circumstances
- What can be a surprise to many, most of the fees generated by the Maker contract in 2018 benefited PETH holders (i.e. those that have deposited collateral into Maker) and keepers (i.e. agents that liquidate underwater loans), while only a tiny share of these fees attributed to MKR holders
- In 2018, only 183k DAI worth of MKR has been burned from the stability fees (i.e. interest payments). This is the only benefit MKR holders have benefited from. Note: an extra 364k DAI worth of stability fees has been accrued but not paid in 2018
- Besides stability fees, c. 6.1mn DAI worth of liquidation penalties has been paid by borrowers. Liquidation penalties are a 13% charge on loans for which the value of the loan fell below 150% of collateral value. Of this 6.1mn DAI, 1.71mn has been distributed to keepers for liquidating, and 4.13mn has been distributed to PETH (collateral) owners, net of 251k DAI lost due to collateral devaluation during the liquidation process
Sources
- Dai In Numbers: Momentum Report by MakerDAO published on 6 June 2019
- Dai in Numbers by MakerDAO published on 8 February 2019
- MakerDAO 2018 Revenue Analysis by Marc-André Dumas published on 13 February 2019
