Dai on Different Networks #11 - September 17, 2021

Dai on Different Networks #11

If you missed last week’s update, here’s a link to Dai on Different Networks #10.

Highlights

  • Nearly 9.5 million DAI was bridged to Optimism last week, begging the question: rollup szn?
  • Over 12 million DAI was bridged to Solana last week. This despite the blockchain’s CEO shutting down the network for nearly an entire day. The sources are yet to be determined, but one wallet currently holds 99.9% of DAI circulating on Solana.
  • BSC’s top mover was… Binance Hot Wallets, which saw an influx of over 82 million DAI last week. Is this simple wallet aggregation or is DAI leaving the comfort of cold storage to hit exchanges?

Overview

Where is my Dai (General)

This week saw slight decreases across the board, outside of minor upticks in the ‘Other’ and ‘Treasuries’ categories. ‘Other’ is an aggregate of Aragon, Tornado Cash, and PulseChain - and ‘Treasuries’ represents Olympus DAO.

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 15,772,216.01 151.45%
Loopring 523,443.34 -13.33%
zkSync 963,328.13 30.51%
Aztec 2.0 32,856.17 -5.00%

Source

Where is my Dai (Bridged)

All Assets

TVL of bridged assets

Bridged DAI

By DEX

Circulating Dai by Platform

As of 09/16/2021

Solution Circulating Dai Dai Holders Weekly Dai Movement
Avalanche 175,932,640.97 ~2500 8.69%
Binance Smart Chain 262,113,764.64 47,281 -0.02%
Fantom 104,354,937.89 4,400 6.06%
Klaytn 94,643,025.04 6,539 -4.09%
Polygon 327,416,479.80 42,839 -6.73%
Solana 25,983,214.47 20 87.02%
xDai 21,302,940.00 unknown 3.46%

This week saw even more NFT-driven, chain-to-chain movement, with Solana as the primary benefactor - seeing an increase of 87% in circulating Dai.

After a week of decline, Avalanche saw a sizeable influx of around 24 million DAI as users hopped back to the network.

By Platform

Avalanche

Solution Circulating Dai Dai Holders
Avalanche C-Chain 165,932,640.97 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 Liquidity in Dai
Benqi 96,002,750.95
Trader Joe 46,687,272.43
Pangolin 6,382,859
Other 7,298,607.60

Current Events

Avalanche Newsletter

This is the top 7 exchanges by users in last 24H.
Which exchange do you use everyday?
Comment below your experience to us! @Uniswap @QuickswapDEX @traderjoe_xyz @SushiSwap #JustSwap @ape_swap #Alcor pic.twitter.com/XdScepCtcn

— CoinF - Research | Analytics (@CoinF_io) September 17, 2021
  • On the 16th, Trader Joe saw the 3rd highest user volume out of any DEX on any chain. Safe to say Avalanche is heating up - so I guess… global warming?

Bridges

Binance Smart Chain

Top Holders Circulating Dai Proportion Weekly Movement
Binance Hot Wallets 192,363,567.50 39.55% 75.05%
Venus (vDAI) 5,877,041.48 2.24% -4.31%
PancakeSwap 12,141,927.98 4.63% 46.93%
ApeSwap 5,298,275.51 2.02% 4.19%
FTX 5,027,063.64 1.92% 0.19%
Vyper 4,066,599.85 1.55% -8.96%
MDX 2,878,560.92 1.10% -2.93%
Biswap 2,619,180.44 1.00% -
Other 31,841,547.32 12.83% -69.31%

Source

Current Events

Bridges

Fantom

Top Holders Circulating Dai Proportion Weekly Movement
Curve 76,526,408.63 73.33% 18.61%
SpookySwap 21,025,240.49 22.48% -21.39%
SpiritSwap 1,183,350.81 1.13% -49.12%
Other 5,619,937.96 3.05% 14.63%

Source

Current Events

New vaults for SpookySwap $FTM LP pairs have been launched on @SwampFinance! A great way to optimize your yield farming with 0% deposit fees for the next 24 hours 😺💜☢️

Thank you $SWAMP and all other $BNB and $MATIC developers who are starting to take an interest in $BOO 🐈‍⬛ https://t.co/3jGoGeAwFV

— SpookySwap (@SpookySwap) September 15, 2021
  • A FTM-DAI LP is up and running on SpookySwap for those of you looking to explore Fantom OPERA!

Bridges

Klaytn

Top Holders Circulating Dai Proportion Weekly Movement
KlaySwap LP KUSDT-KDAI 44,151,366.19 46.65% -5.84%
KlaySwap LP KDAI-KAI 20,548,754.96 20.50% -5.59%
KlaySwap LP KXRP-KDAI 4,360,283.20 8.76% 5.06%
KlaySwap LP KLAY-KDAI 4,395,922.33 4.76% -5.94%
KlaySwap LP KORC-KDAI 4,675,807.41 4.65% 10.01%
Other 14,274,446.10 15.86% -4.83%

Source

Current Events

Polygon (formerly MATIC)

Top Holders Circulating Dai Proportion Weekly Movement
Aave 186,727,635.08 57.03% -2.31%
Quickswap 36,991,224.88 11.26% -12.45%
Iron Finance 12,457,427.25 3.80% -65.62%
SushiSwap 12,223,771.85 3.73% 1.74%
Balancer 6,279,694.75 1.92% -2.68%
UniSwap 9,871,252.41 3.00% 67.59%
Kyber 2,312,418.10 0.71% -10.27%
Other 60,553,055.48 18.55% 37.08%

Source

Current Events

Solana

Top Holders Circulating Dai Proportion Weekly Movement
Contract 1 25,957,858.78 99.90% 87.01%
Contract 2 20,257.78 0.08% 63.39%
Other 5,097.91 0.02% 488.95%

Current Events

xDai

Top Holders Circulating Dai Proportion
HoneySwap 2,856,461 13.41%
CHAI 686,255.99 3.06%
Other 17,760,223.01 83.37%

Source

Current Events

We are happy to inform you that @TrustWallet🛡️mobile crypto wallet now supports xDai!🎉🎉 pic.twitter.com/CNWyHNcVws

— xDai (@xdaichain) September 17, 2021

Bridges

Notes & Feedback

  • Next week we’ll be releasing a dashboard for Dai on Different Networks - but as of now, Dune Analytics only pulls from the Ethereum, xDAI, and Polygon blockchains.
  • 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.
  • TVL Bridge is back on the menu!

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.

6 Likes

Excellent summary alec :ok_hand:

2 Likes

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