Financial Report - 2021-04

The financial report for April 2021 is available here .

In short

Another very good month.

  • Recurring income hitting 10M for the first time (+25% vs last month)
  • DAI was never so safe. We are now above 1% in CET1 ratio (risk-weighted assets leverage ratio). The peg is super safe as we have 27% of our assets as liquidity reserves (fiat-backed stablecoins)
  • First Real-World Asset loan with New Silver. $588k RWA loans at end of the month.
  • Scaling liquidity pools vaults with $79M of liquidity pools-backed loans.
  • Only bad news, the earnings yield is now down to 2.81%. But that’s because MKR price is up 107%. Oh wait, that’s good news after all :smiley:

The DAI usage is going back to 11% of the amount of on-chain volume where we sit for the last few months.

Selected slides


Adding a spreadsheet for the financials. Monthly, wit ha yearly summary.


Love the monthly financial statements😊 Great work! One quick question: I see that the equity increased with 10.9m in April. At the same time net profit for the period was 12.6m. My assumption was that the difference would be the cost of mkr burned. However, given the change in circulating mkr from March to April (-99 according to the FS) that would imply an average cost of over 17k for each mkr burned.

Is there anything else explaining the movement in equity for the period other than the net income for the period and cost of mkr burned?


Great job Seb!

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