Dai on Different Networks #10 - September 9th, 2021

Dai on Different Networks #10

If you missed last week’s update, here’s a link to Dai on Different Networks #9.

Highlights

  • Fantom continues to grow, positioning itself as the fourth-largest EVM-compliant network. In the last two weeks alone, we’ve seen an 80% increase in circulating DAI on the platform. Wouldn’t have guessed that it would be NFTs that sparked the multi-chain movement, but here we are!
  • Uniswap’s dominance of the DEX market has begun to show signs of fracturing, as money moves to various chains.
  • On the Binance side of things, Quickswap has been moving up the charts and is now firmly entrenched as the second-largest Dai holder on the chain.

Overview

Where is my Dai (General)

This week saw a healthy increase of around 1.5% between DEXs and Lending protocols and another 1.2% decrease in ‘Other’- which is an aggregate of Aragon, Tornado Cash, and PulseChain.

Source

Special thanks to @SebVentures. Bookmark his site for accurate, easy-to-read tracking for Maker analytics of all kinds.

Dai on Rollups

Rollup Solution Circulating Dai Weekly Movement
Optimism 6,272,534.08 10.88%
Loopring 603,936.92 4.33%
zkSync 738,098.81 -0.55%
Aztec 2.0 34,585.01 0.25%

Source

Where is my Dai (Bridged)

By DEX

Circulating Dai by Platform

As of 09/09/2021

Solution Circulating Dai Dai Holders Weekly Dai Movement
Avalanche 161,868,338.66 ~2500 -42.93%
Binance Smart Chain 262,168,590.90 47,925 0.03%
Fantom 98,392,387.76 3,900 37.99%
Klaytn 98,681,765.50 6,239 -2.15%
Polygon 351,052,685.89 39,619 -1.83%
Solana 20,590,622.00 20 14.57%
xDai 20,590,622.00 unknown 4.65%

This week saw more NFT-driven, chain-to-chain movement. And again, Fantom was a benefactor, with an increase of nearly 38% in circulating DAI.

Avalanche saw a fairly steep decline in circulating DAI as users migrate to Solana, Fantom, and Algorand - among others.

By Platform

Avalanche

Solution Circulating Dai Dai Holders
Avalanche C-Chain 151,868,338.66 2,453
Avalanche P-Chain 0 0
Avalanche X-Chain 9,978,886.00 ?
  • The Contract (C-Chain) chain is EVM compliant, allowing devs to copy/paste projects and enabling easier bridging for end-users.
  • Platform (P-Chain) chain controls validators and creates “subnets” or sharded side-chains.
  • The Exchange (X-Chain) chain is used for the creation and exchange of assets.

C-Chain Top Wallets

Current Events

Avalanche Newsletter

🚨 On Sale Now 🚨
The 2021 @Topps @MLB Inception #NFT Collection is live at https://t.co/e7Me3EGTBU

Powered by #Avalanche, the @ToppsNFTs market is the new home for digital collectibles, giving fans premium access to their favorite baseball stars 🏆 https://t.co/GWSFH4Rvk5

— Avalanche 🔺 (@avalancheavax) September 9, 2021

Bridges

Binance Smart Chain

Top Holders Circulating Dai Proportion Weekly Movement
Binance Hot Wallets 109,893,723.58 39.55% -4.33%
Venus (vDAI) 18,221,322.16 6.95% -4.31%
PancakeSwap 8,263,604.98 3.15% 0.96%
ApeSwap 5,085,330.50 1.94% -23.05%
FTX 5,017,462.63 1.86% 2.88%
QBIT (qDAI) 4,510,522.70 1.72% -68.92%
MDX 2,965,520.69 1.13% 6.98%
Other 103,744,359.68 43.85% 23.56%

Source

Current Events

Bridges

Fantom

Top Holders Circulating Dai Proportion Weekly Movement
Curve 64,519,639.44 65.51% 32.40%
SpookySwap 26,747,147.43 27.16% 50.75%
SpiritSwap 2,325,857.77 2.36% 31.90%
Other 4,902,678.99 4.97% 74.09%

Source

Current Events

At 1.4B TVL, Fantom is now the fourth largest EVM network.

The growth is staggering across the board:

🔹 20k+ new addresses / day

🔹 567k unique addresses

🔹 1.5m tx/day

🔹 5 protocols above 100m TVL

— Fantom Foundation (@FantomFDN) September 9, 2021

In light of that climb, here’s a list of the projects currently running on the network.

Bridges

Klaytn

Top Holders Circulating Dai Proportion Weekly Movement
KlaySwap LP KUSDT-KDAI 46,887,715.32 51.45% -9.38%
KlaySwap LP KDAI-KAI 20,548,754.96 20.34% 0.45%
KlaySwap LP KXRP-KDAI 4,360,283.20 8.76% -14.88%
KlaySwap LP KLAY-KDAI 4,395,922.33 4.76% -8.20%
KlaySwap LP KORC-KDAI 4,675,807.41 4.65% -6.75%
Other 14,999,143.77 15.20% 48.57%

Source

Current Events

Polygon (formerly MATIC)

Top Holders Circulating Dai Proportion Weekly Movement
Aave 191,139,358.69 54.45% 2.58%
Quickswap 42,252,543.73 12.04% 31.68%
Iron Finance 36,232,510.07 10.51% -3.58%
SushiSwap 12,014,146.50 3.92% -36.04%
Balancer 6,452,379.11 1.84% -10.88%
UniSwap 5,890,057.58 1.68% -59.96%
PolyCat 5,575,139.20 1.59% 2.47%
Kyber 2,576,965.59 0.73% -86.04%
Other 44,174,065.50 13.66% 15.84%

Source

Current Events

Solana

Top Holders Circulating Dai Proportion Weekly Movement
Contract 1 13,880,586.32 99.91% 8.18%
Contract 2 12,398.13 0.09% -37.92%
Other 865.59 0.01% 188.06%

Current Events

Saber just became the first protocol on @Solana to reach $2bn+ in TVL!

This comes just 3 days after reaching $1bn+ 🎉 pic.twitter.com/oH9Awe4ap3

— Saber (@Saber_HQ) September 8, 2021

So… Solana’s growing pretty quickly.

xDai

Top Holders Circulating Dai Proportion Weekly Movement
HoneySwap 2,750,739 13.36% 0.42%
CHAI 629,542.44 3.06% 0.00%
Other 17,210,340.56 83.58% 5.54%

Source

Current Events

Bridges

Notes & Feedback

  • Working on a dashboard for Dai on Different Networks but as of now, Dune Analytics only pulls from the Ethereum, xDAI, and Polygon blockchains.
  • Will be digging deeper into the internal movement on BSC and Solana.
  • Getting conflicting information on various Avalanche explorers, so the current total reflects total DAI and DAI.e and includes BENQI’s current DAI.e supply.

Have anything you’d like to see added to these breakdowns? Leave a message in the comments or DM me, @seth, or @JerryAG.

Thanks for reading!

Tracking Tools

DAI

Block Explorers

Bridge Metrics

DEX

Misc

This is for informational purposes only. We do not endorse any of the projects referenced in this update. Always do your own research before making investments and/or using DeFi products and services.

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Here’s a nice Dune dashboard of assets bridging away from Ethereum L1 courtesy of Elias Simos:

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Wowww - you have no idea how much time you just saved me… thank you, absolute GEM of a find!

:pray: :pray: :pray:

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