MakerDAO’s DAI Stablecoin Surpasses $5B on Higher Yield, Lifting DeFi Lender Spark Protocol

MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve

The extra payout has drastically bitten into Maker’s profits, Kunal Goel, analyst at Messari noted in a report. “Higher rates on higher deposits ballooned the protocol’s interest expense [and] has dried up profit expectations,” he wrote. The too-high rate also opened up opportunities for arbitrage, Goel added.

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