- Whales, including Justin Sun, pulled funds out of the DSR pool.
- Maker’s TVL and active addresses decreased.
Maker’s [MKR] recent reduction in the Dai Savings Rate (DSR) has resulted in some consequences that may not sit well with the project. The DSR, which is the interest rate paid to Dai holders, plays a crucial role in maintaining the stability of the Maker protocol.
How much are 1,10, 100 MKRs worth today?
And since Maker lowered it from 8% to 5%, whales have been withdrawing their assets from the DSR pool. The DSR pool operates similarly to centralized trading with the order book. But the difference is that the DSR interacts with smart contracts while regular trading on CEXes does not.
Whales get DAI’s out of the way
According to Arkham Intelligence, whales like Tron [TRX] founder Justin Sun redeemed 206 million in DAI from the pool. Sun, making use of another of his wallets, redeemed 235,556 WSTETH from the pool.
Previously, Maker experienced an influx of liquidity into the DSR following a hike of the rate to 8%. Thus, by lowering the DSR, Maker may have opened up the overall health of its ecosystem to risks due to the
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Author: Victor Olanrewaju
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