Financial Report - 2021-08

The financial report for August 2021 is available here.

Summary

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)

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