Dai on Different Networks #4 - July 29, 2021

Dai on Different Networks #4

If you missed last week’s update, here’s a link to Dai on Different Networks #3.

Overview

Where is my Dai (General)

This week’s overview shows a decrease of 1% in DAI circulation on DEXs and L2 solutions, and an increase of 1.2% into Lending protocols and ‘Other’ from last week.

Where is my Dai (L2s)

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

Circulating Dai by Platform

As of 07/29/2021

Solution Circulating Dai Dai Holders
Avalanche 10,000,000 unknown
Binance Smart Chain $262,434,762.56 34,933
Fantom $37,194,874.85 2,996
Klaytn 62,077,930.44 5,205
Polygon $483,307,350.44 26,488
xDai 16,118,906 unknown

The number of Dai on Avalanche, BSC, Fantom, and Klayton has remained steady for the past month. Polygon is still experiencing high volatility with another 42 million Dai moved from the chain in the last week. Around 1.8 million Dai moved to xDAI.

Tokens Bridged by TVL

This chart includes tokens across a number of chains, including Polygon, Loopring, Solana, Avalanche, Fantom, BSC, DeversiFi, Nerve, Harmony, RSK, Fuse, zkSync, OMG Network, Near, Aztec, Hermez, and Immutable X.

By Platform

Avalanche

Top Holders Circulating Dai Proportion
Pangolin 2,220,870 22.21%
Other 7,779,130 77.79%

Current Events

Dai liquidity on Pangolin rose 90,345 DAI since last week.

BitMart Officially Integrates with the Avalanche Blockchain

  • BitMart is a digital asset trading platform claiming over 5.5 million users and 550+ trading pairs that has integrated with the Avalanche network. AVAX (Avalanche token) has been listed on BitMart as of July 26, 2021.

Benqi Deploys Gauntlet on Avalanche

  • The Gauntlet Platform monitors for market risks and governs various protocols under variable market conditions. The hope from Benqi is that the integration of Gauntlet with Avalanche will support and improve the scalability of the algorithmic liquidity market protocol.

Bridges

Binance Smart Chain

Top Holders Circulating Dai Proportion
Binance Hot Wallets 145,610,743.79 55.6438%
Venus (vDAI) 31,600,291.95 12.0434%
PancakeSwap 28,800,000 11.6089%
1inch 4,242,588.00 1.6169%
Other 78,101,138.82 19.087%

Source

Current Events

Binance Announces $10M BSC Bug Bounty Program

  • This Bounty Program is aimed at improving on-chain security.

MyEtherWallet (MEW) Integrates with Binance Smart Chain

  • This integration is geared to allow developers and users of MEW to move funds between chains, as well as develop on either the blockchain network, or the Binance Smart Chain.
  • FXT is developing a BEP-20 token (built on Binance Smart Chain) which is designed to increase efficiency through reduced transaction costs and settlement times compared to the traditional Ethereum Blockchain.

Bridges

Fantom

Top Holders Circulating Dai Proportion
Curve 33,751,119.66 90.6151%
SpookySwap 1,158,770.89 3.8291%
Address 291,213.09 0.7854%
Cream 220,713.33 0.5926%
Other 1,773,057.88 4.1778%

Source

Current Events

Fantom Foundation updates Fantom testnet faucet

  • Developers can claim 10 Testnet FTMs once per address every 5 minutes from Fantom’s updated Testnet Faucet.

FTM is now integrated with Yield Monitor

  • FTM can now be tracked across different chains using Yield Monitor, a multi-chain portfolio tracker.

Bridges

Klaytn

Top Holders Circulating Dai Proportion
KlaySwap LP KUSDT-KDAI 42,415,518.24 64.8825%
KlaySwap LP KXRP-KDAI 4,900,314.78 8.2038%
KlaySwap LP KLAY-KDAI 3,978,924.42 6.9398%
KlaySwap LP KORC-KDAI 3,497,499.24 6.0894%
Other 8,540,960.01 13.8845%

Source

Current Events

Klatyn drops a new collective of NFTs

Polygon (formerly MATIC)

Top Holders Circulating Dai Proportion
Aave 167,884,144.30 34.7365%
Iron Finance 165,324,735.13 34.2070%
Quickswap 57,188,197.25 11.9567%
Uniswap 38,857,812.84 8.0404%
Other 54,052,460.92 11.0594%

Source


Current Events

Mobilum Technologies Signs MOU With Matic to Launch Its Hosted On-Ramp and Beta Off-Ramp Solution for Polygon

  • Moblium aims to provide a fiat on-ramp directly to the Polygon network.

A Community-built List of Every Project on the Polygon Chain

xDai

Top Holders Circulating Dai Proportion
HoneySwap 2,665,527 16.5366%
CHAI 588,252.94 3.6495%
STAKE ? ?%
BAO ? ?%

Source

We’ll continue to track xDAI’s daily transactions to better understand DAI’s flow through its network.

Transactions per day

  • Its Governance token (STAKE) can be swapped to through numerous chains and DEXs, which makes the tracking of input DAI a challenge. STAKE’s top pair on HoneySwap is STAKE-xDAI with 322,945 in xDAI currently pooled.

Current Events

xDAI Analytics Dashboard

Croatia’s Circus Maximus Launches NFT Ticketing on the xDAI chain & Aims To Become The World’s First DAO Festival

Bridges

Dai on L2 Rollups

Rollup Solution Circulating Dai
Optimism 3,065,780.83
Loopring 1,958,781.16
zkSync 795,865
Aztec 2.0 30,425.30
Hermez 10,953.29

Source

Thoughts?

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.

8 Likes

For your info all of these addresses are on Klayswap https://klayswap.com/
image

For example,
1st KlaySwap LP KUSDT-KDAI
2nd KlaySwap LP KLAY-KDAI
3rd KlaySwap LP KXRP-KDAI
4th KlaySwap LP KORC-KDAI

1 Like

You can think them as LP pools similar to ones on Uniswap v2.

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@alec is the “Where is my Dai (L2s)” chart correct? Optimism seems to be missing.

1 Like

Good catch! I was 99% sure they were KlaySwap, but their “Orbit Bridge” (seems as if the bridge has an entry point straight into KlaySwap) muddied the transactions up a bit. Left them hanging until I could fully confirm. Appreciate the due diligence - going to get them added! :slightly_smiling_face:

1 Like

@Planet_X The chart was taken directly from MakerDAO’s analytics dash, but it looks like Poly and xDAI simply overwhelm Optimism on the graphic.

That said, circulating DAI on true L2s is on the rise, so a few months from now - that chart may look entirely different. Guess we’ll see! :slightly_smiling_face:

1 Like

@alec I zoomed in max on the chart. There is simply no Optimism on it. It is not overwhelmed, it is missing.

Optimism is about 1/5 of xDAI so it should be a thin purple line - but there is nothing - like not a single pixel.

1 Like

Hmm, thanks for the heads up. I’ll see if I can get it to visualize properly, or I’ll make one - unfortunately it definitely won’t look as pretty as @SebVentures’s!

Hi—good stuff—can you please add Solana’s Wormhole and to the DEX list, saber.so?

2 Likes

Actually, Optimism is there. Dune frontend adds white borders that hide small stuff.
image

Or changing the chart a little bit (logarithmic trick):

But TL;DR: Optimism is not living up to my expectations … I don’t know why.

Btw, if people know the bridges (on Ethereum) for other networks, happy to add them.

5 Likes

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