Suggested Improvements for State of the Peg graphs

So based on the recent discussions within the last Governance and Risk meeting I thought I would summarise some of the suggestions for changes to the State of the Peg graphs. I’ve also included some previous suggestions from myself and others.

I’m going to include numbered polls in an attempt to try to get a rough priority list for these improvements. Vote highly for those improvements that you would like to see sooner and less highly for those you think are less important.

Pinging those who were part of the discussion in case they want to comment. @Vishesh @hexonaut @cyrus

If anyone has any additional suggestions related to the State of the Peg presentation feel free to share in the comments and I’ll add them to the initial post.



Add the seven day timescale VWAP Dai graph to dai.deschiper.io
We only vote on the SF once a week, and by the time the 7-day VWAP is displayed in the Governance and Risk meeting the polls for the week have concluded. This means that voters may not be considering the full picture of the weekly Dai VWAP when voting.

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Add Moving Averages for different time periods
This would give voters a better understanding of the peg deviation, it would help us separate long term from short term trends. (The the type of average, whether MA, EMA, volume or time weighted averages or some combination is up to the implementer.)

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Incorporate Dai/USDC markets in the VWAP graphs
At the time of looking, the volume for USDC/DAI on coinbase is just under 2 million. On-chain DEX’s tend to have lower volume, but in aggregate could be higher than expected. We should consider these when looking at peg deviation.

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Add more vertical lines to the VWAP graphs to denote significant fractions off-peg
Perhaps every 0.005 cents? This would give voters a better idea of how far from the peg the average is at a glance. Because the graph’s horizontal scale changes day by day, having only a single vertical line at $1 shows that we are off-peg, but not by how much in a visually obvious way.

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Find some way to measure orderbook depth and use this as an additional data point to determine peg deviation
This has been suggested several times as an alternative to determine peg deviation. While I’m not yet convinced it’s better than looking directly at trades, it should be explored and possibly used as a supplemental metric.

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1 Like

Hi @LongForWisdom,

How are you doing ?


Simple idea here :

  • I would suggest to implement a workflow with automation for some of the presented vote option. What i mean is, instead of voting or updating them everyday, they could be updated every day and we would use less time on these ( less time on these = more time on something else = $$$ = win ) but they would still be part of the dataset that you are presenting. Almost like a bot. I am doing 2 right now if you want i can show you.

Hi SirLupin, I don’t think your idea is directly applicable to this sort of vote (I don’t think we need automation here). We can discuss further via direct message if necessary.

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From all that displayed data on http://dai.descipher.io/ you cannot see whether DAI is off the peg or not. There should be a quick and simple method to determine the “real” DAI price.

Right now the following prices are displayed:

  • “Overall VWAP last 24 hrs”: $0.946 (due to some strange volume around $0.705)

  • “Most Recent Trade”: $0.999

I think most of us will agree that DAI is today slightly above the peg at around $1.002 (Kraken, Uniswap, Coinbase…).

On a point of courtesy, I would recommend against speaking on behalf of others, especially when there have been relatively few others taking part in the conversation thus far.

There is good evidence that the Dai price oscillates around the peg, the average of this oscillation can deviate though. The point is that it’s probably not enough to look at the price at this exact moment, you need to consider how the price has changed over the past period, how often was it above, how often was it below, by how much etc.

On the subject of outliers though, it might be good to try to use the median price or the standard deviation somewhere in these calculated metrics?

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OK, sorry. It seemed obvious to me that it was rather hard to buy DAI below $1 for the last 2-3 days unless you have a bot. I check bids several times a day and the bid price is always above $1. I mentioned my sources but I can be more specific if needed.

Right now https://defi.ai/dai says that about $20k is available above $1 and that volume is not falling much over last 48 hours.

The last ETH price now as an average of (Kraken, Bitstamp, CB Pro) is $221.47. The Uniswap price of 1 ETH -> DAI now is $219.69 which gives DAI=$1.008. If you substract the max. fee that centralized exchanges take (0.6% trade+withdrawal) you get DAI price of about $1.002.

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I mentioned this in the governance call, but I think this could be a useful source of information for Vishesh and the more data-focused members of the community who build these resources. Everyone wants their personal projects to be as useful as possible, but this is next to impossible without feedback, so I’m going to bump this again here and in the chat.

State of the Peg has existed for some time, and is an invaluable part of the weekly governance and risk call. That said, the core price graphs have remained largely unchanged since their inception (barring updates to add more exchanges.) Please take a moment to read and rate the importance of these suggestions.