The financial report for September 2021 is available here.
Broader crypto market recovery led to higher lending demand and protocol income. Net Protocol income was up 339% month over month, driven by liquidation income due to higher crypto market volatility. On a year over year basis, all key metrics are up significantly with recurring income up 615%.
- Recurring income increased to 1.37M (+80% vs last month), driven by a 16% increase in net interest income.
- DAI safety continues to increase with leverage ratio at 0.96% and CET1 ratio at 2.42% (down 1 bp vs prior month).
- The peg is super safe as we have 59% of our assets as liquidity reserves (fiat-backed stablecoins)