---
# System prepended metadata

title: 'State of Dai: May 3rd - 9th, 2022'
tags: [State of Dai]

---

---
tags: State of Dai
---

# State of Dai: May 3rd - 9th, 2022

![](https://i.imgur.com/Cyq5msJ.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/MhG2Z4SZd_State_of_Day_May_3_9_2022)

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

- It's been a dog of a market this last week. Peg mostly trades at a premium through curve rebalancings, broader stablecoin capitulation, and max pain red candles. It feels like 2018 again.

![24 hour versus 7 day](https://i.imgur.com/1Aif6Yo.png)

- Over the past week or even in the past 24 hours, the DAI peg is still snapping back to par quickly and staying mostly above 1.

![DEX's lead the way curve as the ultimate settlement](https://i.imgur.com/fq1DQfI.png)

- DEX's lead the way, with most DAI trades settling back to Curve. Ninety-eight million in the past 24 hours. 

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

- DAI supply continues to reduce in the face of a market downturn and a decent chunk of USDC PSM burns.

![PSM chart looks like a rollercoaster](https://i.imgur.com/ogGb49x.png)

- Visualizing the PSM outflow helps to see the drop over time. Balance is now at 3.2 billion in USDC.

![Vault changes](https://i.imgur.com/yFRCGes.png)

- Double-digit percentage changes over the week. With ETH-A leading vault reductions, 270 million less supply from 41 fewer vaults. 

![ETH OI](https://i.imgur.com/u4RugVN.png)

- Over the last week, ETH perps and futures evaporated a billion dollars in open interest: 7.4 to 6.5 billion.

![Net burn](https://i.imgur.com/uUZYI0e.png)

- A net burn this week, 876 million DAI burned, and most of it over the weekend.

**[Visit Makerburn](https://makerburn.com/#/rundown) for an up-to-the-minute breakdown of system changes.**

![Auctions this last week](https://i.imgur.com/RE7M7zE.png)

- Not all is lost for users, though; only 17 auctions settled on 1.5 million in debt. 

![Defi unique borrowers also sad](https://i.imgur.com/8wYlqh2.png)

- Don't fret, though; we're all in this sinking boat together, DeFi unique borrowers peaked a few days ago. Reset back to single digits in the past day.
- It will rise again; the market is brutal but nothing like a shared struggle to incentivize collective action.

![Vaults at risk](https://i.imgur.com/t8dcPnY.png)

- 77 high-risk Vaults through more price drops.
- At the time of writing on the cusp of two WBTC vaults hitting auction.

![Risky debt at 1.73](https://i.imgur.com/ulYxTrL.png)

- 9% drop starts to creep into low-risk vaults. 

![Majority risk buckets still low risk](https://i.imgur.com/ZBBPthL.png)

- Low risk is the majority of the appetite. However, there is more debt in the medium and high-risk categories. 

![ETH-C Organic demand ](https://i.imgur.com/ZfZK702.png)

- For large vaults and organic demand, ETH-C is leading, with most of its vaults sitting at just over 200% collateralized.

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

### We Are ![](https://i.imgur.com/RLh5njq.png)aing for Your Feedback

We value your input! Take our [survey](https://survey.sogosurvey.com/r/OBV0Y7) to let us know what we might be missing or how to do better.

*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 for information and communication purposes only.*

#### Credit

@twblack88
