The financial report for August 2021 is available here.
A challenging month as lower appetite for credit and decreased stability fees led to lower lending demand and income. PSM income was down 5% and net recurring income was down 66% month over month. On a year over year basis, all key metrics are up significantly with recurring income up 105x.
- Recurring income decreased to 1.2M (-76% vs last month), driven by a 109% increase in workforce expenses from prior month (due to advance payments made to Growth and SES CUs)
- DAI was never so safe. We are now above 2.83% in CET1 ratio (risk-weighted assets leverage ratio).
- The peg is super safe as we have 62% of our assets as liquidity reserves (fiat-backed stablecoins)