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 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.

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