---
# System prepended metadata

title: 'State of Dai: January 31st, 2022'
tags: [Weekly Relay]

---

---
tags: Weekly Relay
---

# State of Dai: January 31st, 2022

![](https://i.imgur.com/sxiamJ2.png)

*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!*

> The public PDF version is available [here.](https://pdfhost.io/v/d~XAE~iDL_State_of_Dai__January_25_31_2022)

![Peg](https://i.imgur.com/CVHaqj0.png)

- Quiet week in the markets leads to a quiet week on the peg.

![7-Day Dai stats](https://i.imgur.com/1zrv9mC.png)

- Max and min at 1.05 and .88. Uniswap v2 pools were leading the lows.

![Uniswap volume](https://i.imgur.com/t0gx8o8.png)

- You can see flappy Friday reflected on the Uni v2 pools dailies and a return to peg stability more recently. 
- There is only 60 million in Liquidity in these pools, worth mentioning since the UNIv2-LP deposits in vaults are the same amount. It seems like the appetite for leverage on v2 types isn't as pronounced.

![Messari volume](https://i.imgur.com/Dezobnl.png)

- 2.39 billion in volume this last week, according to Messari.

![DAI Supply](https://i.imgur.com/7IuD36R.png)

- Supply at 9.5 billion with a slightly higher average collateralization ratio of 167%.

![Mint/burn](https://i.imgur.com/2a6tBNB.png) 

- Net burn of 56 million this last week.

![192 Vaults](https://i.imgur.com/ltyjZbP.png)

- 192 vaults were created over the week.

![Collateral 24 change](https://i.imgur.com/C2MIuNP.png)

- Trying something new and including the 24-hour changes in supply. GUNI is capped.

![Collateral list 1](https://i.imgur.com/ZKWrVLC.png) 

![Collateral list 2](https://i.imgur.com/8JXhqiE.png)

**MakerBurn rundown**
- PSM USDC 4.6 billion 
  - ETH-A 1.9 billion
  - WBTC-A 953 million 
  - PSM USDP 495 million
  - ETH-C 272 million
  - GUNI DAI-USDC (0.01%) 208 million
  - LINK 77 million
  - GUNI DAI-USDC (0.05%) 69 million
  - stEth 64 million
  - UniV2DaiUSDC 60 million
  - Aave D3M 50 million 
  - ETH-B 48 million
  - MATIC-A 19 million
  - YFI 15 million
  - NSDROP 12 Million
  - UniV2UsdcEth 11.5 million
  - PSM GUSD 9.9 million
  - WBTC-C 9.8 million
  - MANA 4.7 million
  - renBTC 3.7 million
  - WBTC-B 2.5 million
  - FFT1-DROP 2.1 million
  - HTC-DROP 2.09 million
  - UNI 1.7 million
  - 6S Capital 1.4 million
- Other vaults below 500K (UniV2WBTCEth, UniV2DaiEth, UniV2UniEth) at $1.8 million.

![Loan-to-Value](https://i.imgur.com/hdoiAbL.png)

- Maker's Loan-to-value peaked at 103% last Monday. Now back to 97%.

![23% drop](https://i.imgur.com/uVZLE0o.png)

- A 23% drop is where the liquidations start to get steep.

![23% scenario](https://i.imgur.com/eiiVn49.png)

- In that hypothetical drop, WBTC is at the highest risk, but that's the celsius vault.
- ETH vaults are the second set at risk, and at the bottom of the list are the largest LINK vaults. 
- Thanks to blockanalytica, we can see that most of these are low risk and have been actively managed historically. 

![Aggregate vault risk](https://i.imgur.com/6k9oIoI.png)

- In aggregate, most of the debt is in low-risk buckets—medium risk at 495 million and high risk at 97 million.

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

###  🎙️ Have Feedback?

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