Multi-chain DAI-lights - November 24, 2021

Multi-chain Dai-lights - November 24, 2021

I said I’d move on from covering Avalanche, but it won’t let me. Dai just keeps on bridging. Luckily AVAX isn’t the only chain that’s been busy, leading into our theme of the week: side-chains.

Circulating Dai by Platform
By Platform

:snowman: Avalanche

Avalanche is establishing a comfortable control over the side-chain market, raking in another 80 million Dai last week. Pair that with a positive net inflow on each of those days, and it’s tough not to talk about.

Daily Inflow/Outflow (all tokens)

chart via Uniwhales

That said, that kind of traction can come with a price. As of the time of writing, transaction fees on some protocols are greater than 10 USD.

All told, the chain now accounts for over 482 million Dai or 5.35% of the total supply.

:flashlight: Celo

Celo utilizes the Optics bridge, which was recently placed into Recovery Mode. A post on the Celo Governance Forum sparked a public dispute.

The internal squabble saw over 9 million Dai leave the chain, or a 44.9% decrease in the past week. Around 10.6 million Dai are still hanging in there, or 0.12% of the total supply.

:milky_way: Rollups

Dai on Layer-2 Solutions

layer-2 week-over-week growth
This week, the chart mostly speaks for itself.

Loopring has continued to grow amidst speculation surrounding a Gamestop-led project on the network. Last week saw nearly 667k Dai move to Loopring, representing a 16.4% increase in on-chain circulating Dai.

And then we have Optimism. Around 10 million Dai was bridged to the network last week, good for a 21.5% increase.

The L2 now plays host to 50.2 million Dai or 0.56% of the total supply.


Correction: The Klaytn figure from last week was off due to an error in a third-party listed conversion rate. The numbers have since been corrected, and week-over-week growth is now accurate.

Have anything you’d like to see added to these breakdowns? Leave a message in the comments or DM me, @seth, or @JerryAG.

This is for informational purposes only. We do not endorse any of the projects referenced in this update. Always do your own research before making investments and/or using DeFi products and services.


I appreciate the report however it seems quite inefficient to just be summarizing the data.

Do you have any plans to automate the data presented here through a dashboard?

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Have the above set up so far, with the second covering higher-level Maker financials.

Unfortunately, Dune Analytics is still pretty new and only allows for the querying of a few chains. The rest are still plugged in the ol’ fashioned way.

Working on a solution, so definitely hoping for more automation in the future, but open to any and all suggestions!

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