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Thor|Feb 16, 2025 15:28
What are they cooking over at Maker (@SkyEcosystem)?
Stablecoin supply now at 8.75b (up 65% in 2 months)
More than half now in USDS rather than DAI and over 4.4b deposited into the Savings vault earning 8.75% APY.
Despite this yield recently being decreased from 12.5% to 8.75%, the stablecoin supply keeps growing (and pretty fast also).
Meanwhile, MKR is down to trading at 1000 ($900m FDV) and trading at a high float.
Buybacks also seem to be ongoing (from what I could tell?).
The price took a large hit after the rebrand and is down from 4000 in April last year.
The protocol is currently generating $461m in annual fees, most of which are used for expenses (such as paying out the Savings yield).
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