BTC

$57791.595

0.86%

ETH

$2940.744

1.96%

BNB

$552.242

0.52%

XRP

$0.512

4.85%

News

Justin Sun’s Total DAI Deposit Into DSR Exceeded $170 Million

August 11, 2023 - Around 2 mins mins to read

Key Points:

  • Justin Sun’s recent deposit of $50M in DAI has attracted attention in the crypto community.
  • Sun’s two addresses have mortgaged over $400M to mint DAI and deposit in DSR, contributing to a current TVL of $1.17B.
  • Sun accounts for 15% of the total deposits, and it’s estimated that the interest rate will be lowered soon.
Justin Sun’s recent deposit of $50M in DAI has garnered interest in the crypto community. Sun’s two addresses have mortgaged over $400M to mint DAI and deposit in DSR, contributing to a current TVL of $1.17B, with Sun accounting for 15%.
Justin Sun's Total DAI Deposit Into DSR Exceeded $170 Million

Justin Sun’s additional deposit of 50 million $DAI into DSR has sparked interest in the cryptocurrency community. Sun’s two addresses have mortgaged a total of 231,116 stETH ($428M) to mint 175.8 million DAI and deposit it into DSR. This has contributed to a current TVL of $1.17 billion, with Sun accounting for 15% of the total deposits. However, it is estimated that the interest rate will be lowered soon.

Sun has also made previous mortgage transactions, such as 76064 $stETH to mint 58 million $DAI and deposit it into Maker, and more recently, 178,526 stETH ($330M) to mint 135.8 million $DAI and deposit it in Maker. Additionally, Sun exchanged 90254 wstETH for 77.8 million DAI and deposited it into Maker, contributing to the DAI deposit exceeding $1 billion.

Other movements of funds by Sun have raised questions about the motivations behind his actions, particularly regarding his recent transfer of funds from JustLend to Huobi. CoinCu has reported that a wallet address linked to Sun was involved in a notable transaction, and records show that Huobi’s USDT reserves have surged from approximately $85 million to $285 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

DAI

DAI Pool

dai saving rate

DSR

Justin sun

Avatar of Thana

Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

Justin Sun’s Total DAI Deposit Into DSR Exceeded $170 Million

Key Points:

  • Justin Sun’s recent deposit of $50M in DAI has attracted attention in the crypto community.
  • Sun’s two addresses have mortgaged over $400M to mint DAI and deposit in DSR, contributing to a current TVL of $1.17B.
  • Sun accounts for 15% of the total deposits, and it’s estimated that the interest rate will be lowered soon.
Justin Sun’s recent deposit of $50M in DAI has garnered interest in the crypto community. Sun’s two addresses have mortgaged over $400M to mint DAI and deposit in DSR, contributing to a current TVL of $1.17B, with Sun accounting for 15%.
Justin Sun's Total DAI Deposit Into DSR Exceeded $170 Million

Justin Sun’s additional deposit of 50 million $DAI into DSR has sparked interest in the cryptocurrency community. Sun’s two addresses have mortgaged a total of 231,116 stETH ($428M) to mint 175.8 million DAI and deposit it into DSR. This has contributed to a current TVL of $1.17 billion, with Sun accounting for 15% of the total deposits. However, it is estimated that the interest rate will be lowered soon.

Sun has also made previous mortgage transactions, such as 76064 $stETH to mint 58 million $DAI and deposit it into Maker, and more recently, 178,526 stETH ($330M) to mint 135.8 million $DAI and deposit it in Maker. Additionally, Sun exchanged 90254 wstETH for 77.8 million DAI and deposited it into Maker, contributing to the DAI deposit exceeding $1 billion.

Other movements of funds by Sun have raised questions about the motivations behind his actions, particularly regarding his recent transfer of funds from JustLend to Huobi. CoinCu has reported that a wallet address linked to Sun was involved in a notable transaction, and records show that Huobi’s USDT reserves have surged from approximately $85 million to $285 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Visited 63 times, 2 visit(s) today