---
# System prepended metadata

title: 'State of Dai: June 7th - June 13th, 2022'
tags: [State of Dai]

---

---
tags: State of Dai
---

# State of Dai: June 7th - June 13th, 2022

*Hi everyone, thanks for checking out the State of Dai. Now separate from the Weekly Relay with the objective to scale and improve all the information you need for your Dai escapades!*

*Disclaimer: This update is assembled by a group of members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is for information and communication purposes only.*

### Hey, you! Yes, you. We asked. We ***still*** have a couple of questions! 

[Very Short Feedback Survey](https://forms.gle/46feBAmid9jGqaqE7)

---
![](https://i.imgur.com/l5Xvky8.png)

- 'Sellsius Monday's peg variance up close and personal. In yet another market panic, snap back to peg is swift.

![Peg](https://i.imgur.com/EmFpX4L.png)

- Zooming out, what's fascinating is the premium. DAI continues to be above rather than below peg as the sell-offs march towards goblin town. 
- [Macro sentiment is bold](https://forum.makerdao.com/t/financial-report-2022-05/15770#selected-market-sentiment-readings-5)

![24 hour versus 7 day](https://i.imgur.com/LRBgM7s.png)

- Half a billion in volume on DEX venues. Max and Min 1.14 and .80, the same variance as less active weeks. Good to see that even in extreme times, overall, the peg mechanisms perform well.

![Celsius whale stats](https://i.imgur.com/Bh3aQ7t.png)

- Keeping perspective in check, Celsius does have its positions in healthy collateralization, though not from another 22% hit. [Unless conspiracy is your thing](https://twitter.com/0xdjma/status/1536168337754927107?s=20&t=EFC8UPoiB2s1zDOw1t7Gew) 
- More on liquidation risk later. :scroll:

![DAI Supply](https://i.imgur.com/7uUU1Oi.png)

- TVL is down a billion and a half to 9.1. But there is more DAI supply at the time of writing than last week! Likely due to throughput from stables and a flight to safety. 
- Overall, collateralization is floating very low.
- USDC in PSM is at 49%

![Stablecoin balance ](https://i.imgur.com/R9vOGx2.png)

- Total stable coin balances are 4.6 billion.

![Mins/burns](https://i.imgur.com/orU4vh3.png)

- More mints than burns this week, 13 million net. 

![Overall borrowers](https://i.imgur.com/FUHbnJZ.png)

- Overall, this week's borrowers bumped on Maker and Compound while Aave leveled off. 

**[Visit Makerburn](https://makerburn.com/#/rundown) for an up-to-the-minute breakdown of changes, expenses, and `Ilk` updates.**

![Auctions totals](https://i.imgur.com/Z8dxt2v.png)

- Auctions in the past few days are numbering 284, with 5.5 million sent to the surplus. 

![Keepers and takers tied](https://i.imgur.com/1cn4qFm.png)
 
- Keepers and Takers at 15, keeping auctions running smoothly.
- MakerDAO twitter breaking auctions down further: https://twitter.com/MakerDAO/status/1536376851756630017

![Keepers on long tail](https://i.imgur.com/ADwwzED.png)

- One thing to watch in turbulent markets is the keepers on long-tail assets. Some of the smaller DC collateral could be viewed as problematic. Auctions settling greater than an hour and fewer keepers make for stagnant markets.
- Not a huge problem! But definitely, something to keep in the hindbrain for onboarding new `ilk`s. 

![Avergae auction](https://i.imgur.com/lUTRs9x.png)

- Overall, though, auctions purring like an e39 M3. The average duration at 30 mins or less.

![](https://i.imgur.com/0m06EMD.png)
 
- AAVE D3M balance is 76 million at the time of writing.

![Vaults 7 day](https://i.imgur.com/3iNwLy4.png)

- Weekly vault openi...ok, fine, **closing** stats are stark. ETH-A and ETH-C take the largest losses in vaults. 

![OPen interest BTC](https://i.imgur.com/4WE3P7i.png)

- Open interest in BTC is mostly on perps, Binance, FTX, and OKEx. Why write about BTC? Because liquidation cascades would hit our whales smack in the middle of this mess.

If you'd like perspective, shoot, even Binance had to suspend Bitcoin operations for a bit due to faulty sats per byte on their transaction sends https://twitter.com/binance/status/1536398691602399232?s=21&t=weyUMSSwVrTh0RP5oSMeCw.

Probably just bad timing for a hardware upgrade.

![22% or more ](https://i.imgur.com/ehAuEt3.png) 

- As we mentioned, a 22% drop would cascade debt pretty far up the liquidation mountain. 388 million. 😬

So for your health, take a break once in a while and go outside. 

Go Build/learn something
https://twitter.com/0xQuit/status/1536179350302666752?s=20&t=XIwBEMzvK9XrMuYnd3xm2A

:spock-hand:

[daistats.com](daistats.com) | [makerburn.com](makerburn.com) | [maker.blockanalitica.com](maker.blockanalitica.com)

#### Credit

@twblack88
