MakerDAO's DAI Supply Surges By Nearly 1 Billion In Two Months

According to PANews, MakerDAO, a decentralized autonomous organization, has reported a significant increase in the supply of its stablecoin, DAI, over the past two months. The supply of DAI has surged by nearly 1 billion, from 4.4 billion to 5.4 billion, within 60 days. This increase followed adjustments made by SparkLend to the Stability Fee and DAI borrowing APY, as well as a rise in the DAI Savings Rate (DSR).

In addition to the growth in supply, DAI set a new record in April, with on-chain transactions reaching $636.72 billion. This made it the stablecoin with the highest monthly on-chain transaction volume. The DAI Savings Rate (DSR) has also shown positive momentum in recent months, with total deposits exceeding $2 billion last week. The steady growth of DSR indicates a growing confidence in the stablecoin among its users.