The financial report for May 2021 is available here .
A record month in lending income, liquidation income, PSM income, and, therefore, net income.
- Recurring income hitting 23M for the first time (+85% vs last month)
- DAI was never so safe. We are now above 1.75% in CET1 ratio (risk-weighted assets leverage ratio).
- The peg is super safe as we have 48% of our assets as liquidity reserves (fiat-backed stablecoins)
- But we have now a 48% exposure to USDC which is probably too much on a single counterparty (see here for my view on it).