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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.

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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.