Jul 27, 2020 ⋅ 2 min read
Today Maker became the first DeFi protocol to surpass the $1 billion total value locked mark. Nearly $900 million of that TVL is ETH.
Source: DeFi Pulse
Since Compound’s distributionpatch passed June 30th, which made Dai more attractive to liquidity mine with, Dai issuance has soared more than $150 million. During this time more than $140 million Dai went into Compound.
The big tick up in new issuance has not been enough to bring Dai’s price back down to its $1 peg. Dai’s price remains above $1.01 as new issuance doesn’t necessarily lead to downward pressure on price. A user needs to be willing to mint new Dai and sell it into the market in order for it to do so, rather than just putting it into Compound.
Source: Messari Portal
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