• In a challenging DeFi landscape, MakerDAO saw growth with a rebound in DAI supply.
• Introduction of SubDAOs aimed to enhance governance and expand capabilities.

Despite the DeFi sector’s recent struggles, MakerDAO [MKR] was charting a course toward sustainability and profitability. Central to this journey was the enduring popularity of DAI, the stablecoin issued by MakerDAO.

Is your portfolio green? Check out the MKR Profit Calculator

DAImond in the rust

New data illustrated a resurgence in DAI supply over the past few months. This uptick in DAI circulation boded well for MakerDAO’s financial health, especially in the current interest rate environment.

Maker stood out as one of the most resilient on-chain business models in this context.

$DAI supply has rebounded over the last couple months, and Maker’s profitability is looking better and better.

Maker looking like one of the best on-chain “business” models in this rates environment.

(NB: Long $MKR) pic.twitter.com/X71tbBhnRa

— Haseeb ＞|＜ (@hosseeb) October 9, 2023

Network growth metrics for DAI were on an upward trajectory, indicating heightened interest among new users. While network growth thrived, the market capitalization remained steadfast.

However, Maker did experience a setback, with the Total Value Locked (TVL) declining by 13.1%.

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Author: Himalay Patel

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