Tuesday, December 6, 2022

Yield farming fuels 623% growth in DAI supply to nearly $1B By Cointelegraph

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Yield farming fuels 623% growth in DAI supply to nearly $1B

Decentralized finance’s (DeFi) explosive third-quarter brought significant growth to (ETH)-compatible stablecoins.

According to crypto market data aggregator Messari, the supply of MakerDAO’s DAI stablecoin grew by 623% in Q3 2020, pushing the token’s value above $1 for four consecutive months.

DAI’s market cap since Jan. 1 2020: Messari
USDC’s market cap over the past 6 months: Coin360

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