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Airdrop

DAI Deposits In DSR Exceeded 1.3 Billion Ahead Of Spark Protocol’s Airdrop

August 14, 2023 - Around 2 mins mins to read

Key Points:

  • MakerDAO’s DAI deposit rate is raised to 8%, and the amount of DAI deposited into DSR has exceeded 1.3 billion.
  • Among them, Savings Dai (sDAI) has exceeded 550 million due to the scheduled airdrop of Spark Protocol.
  • MakerDAO has announced an airdrop for the Spark Protocol lending protocol with a proposal to distribute 2 billion Spark tokens (SPK) over 10 years with the goal of incentivizing users to participate in Spark Protocol long-term.
According to Makerburn data, when MakerDAO’s DAI deposit rate was raised to 8%, the amount of DAI deposited into DSR exceeded 1.3 billion. Among them, sDAI has exceeded 550 million due to the scheduled airdrop of Spark Protocol.
DAI Deposits In DSR Exceeded 1.3 Billion Ahead Of Spark Protocol's Airdrop

This proves that Maker’s increase in DSR to 8% has caused a large number of users to join the platform to gain arbitrage. Specifically, users will borrow Dai at a lower interest rate and deposit them back into the platform to take advantage of the EDSR.

On August 9, Rune Christensen, co-founder of MakerDAO, made a proposal referring to SparkDAO’s SPK airdrop and SubDAO’s token economy, smaller autonomous organizations forked from the DAO structure present, that everyone is interested in. The proposal says to create new governance tokens for MakerDAO’s new lending protocol Spark Protocol and distribute them as rewards to users.

The Spark Protocol is the first product in Maker Endgame’s transition. With Maker increasing DSR (DAI deposit ratio) to 8%, users are more likely to have Spark exposure. The “Use Dai” button on the official MakerDAO website has been moved to the Spark homepage.

From here, you can deposit collateral to borrow DAI or deposit DAI into a DSR contract as sDAi to receive an 8% return. It can be seen that Maker currently supports Spark.

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.

Airdrop

DAI Deposits In DSR Exceeded 1.3 Billion Ahead Of Spark Protocol’s Airdrop

Key Points:

  • MakerDAO’s DAI deposit rate is raised to 8%, and the amount of DAI deposited into DSR has exceeded 1.3 billion.
  • Among them, Savings Dai (sDAI) has exceeded 550 million due to the scheduled airdrop of Spark Protocol.
  • MakerDAO has announced an airdrop for the Spark Protocol lending protocol with a proposal to distribute 2 billion Spark tokens (SPK) over 10 years with the goal of incentivizing users to participate in Spark Protocol long-term.
According to Makerburn data, when MakerDAO’s DAI deposit rate was raised to 8%, the amount of DAI deposited into DSR exceeded 1.3 billion. Among them, sDAI has exceeded 550 million due to the scheduled airdrop of Spark Protocol.
DAI Deposits In DSR Exceeded 1.3 Billion Ahead Of Spark Protocol's Airdrop

This proves that Maker’s increase in DSR to 8% has caused a large number of users to join the platform to gain arbitrage. Specifically, users will borrow Dai at a lower interest rate and deposit them back into the platform to take advantage of the EDSR.

On August 9, Rune Christensen, co-founder of MakerDAO, made a proposal referring to SparkDAO’s SPK airdrop and SubDAO’s token economy, smaller autonomous organizations forked from the DAO structure present, that everyone is interested in. The proposal says to create new governance tokens for MakerDAO’s new lending protocol Spark Protocol and distribute them as rewards to users.

The Spark Protocol is the first product in Maker Endgame’s transition. With Maker increasing DSR (DAI deposit ratio) to 8%, users are more likely to have Spark exposure. The “Use Dai” button on the official MakerDAO website has been moved to the Spark homepage.

From here, you can deposit collateral to borrow DAI or deposit DAI into a DSR contract as sDAi to receive an 8% return. It can be seen that Maker currently supports Spark.

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.