Bitcoin Unmoved as Boris Gives Brexit Day to Nationalists
February 1, 2020 5:47 pm
Do repost and rate:
Close to half of Dai’s total supply is now in a savings account earning nearly 8% a year.
That’s just weeks after Multi-Collaterals DAI launched with its market cap seemingly doubling to now $106 million.
There was a $100 million limit, which has now been lifted as other assets can be used to collateralize.
When the upgrade happened, initially around 50% moved to DAI while the rest was more slow with close to $25 million still in Single Collaterals SAI.
In combination there’s now $133 million tokenized dollars, meaning $33 million has been added recently.
All this dai is created by the 2 million locked eth, worth about $400 million, so technically around $300 million eth has been taken out of circulation.
That number might seem small in the age of trillions, but it’s more than 1% of ethereum’s market cap of $20 billion.
What is very interesting is the speed with which so much dai has been locked in the savings account with that 7.75% coming from Dai borrowers.
It’s interesting because it might indicate how much eth could eventually be locked into staking once that comes out as that too will give a rate of circa 6% depending on how many stakes.
So 50 million eth probably sounds about right, making it a halving of sorts as the idea of making money from money now develops in the crypto space.
Copyrights Trustnodes.com
Related posts
Stocks Fall, Bitcoin Rises, as Coronavirus Spreads Wider and Wider
January 31, 2020 4:19 pm
Negative Interest Rates Sending Germans to Life Insurance While DeFi Gives 8%
January 30, 2020 4:35 pm
