I think it’s as simple as; more users > more liquidity > DAI.
I’m not here to shill Thorchain, i’m just wanting what is best for MKR as a holder and my observations of this protocol is that it provides a real opportunity for MKR holders to both earn yield and grow DAI usage.
Here are the key facts on Thorchain/Thorswap:
Launched: April 2021 (they are incrementally increasing the liquidity caps to ensure stabilisation of the protocol. Being able to swap L1 BTC for L1 ETH has never been possible before.)
Total Swaps: 530k
Thorchain Social Media Followers: 92k (compared to Uniswap; 500k, SushiSwap; 110k)
Avg APY: 16%. However on stable coins such as USDC, USDT, BUDS the APY is closer to 40%.
The future is multi-chain in my opinion (and many others). Thorswap can open up DAI to other L1’s and in particular the biggest L1 of all BTC.
As MKR holders we can either approach this as a collective, where we all provide liquidity individually to earn yield. Or even better the treasury would allocate larger amounts of funds to the liquidity pool to ensure the slippage fee is minimal, further incentivising users to park funds in DAI (while also earning yield). I think a combination of both would be the best solution.