Method

The aims of this dashboard is to find answer to this questions:

• How does the volume on MakerDAO (in terms of DAI minting) change as more collateral tokens are added to the platform?

• Which tokens have impacted volume the most?

For this I use ethereum.udm_events table to extract the amount of collateral base on Asset and also DAI minted amount on MakerDAO.

Results are shown in the following.

Introduction

Making use of collateral assets that have been approved by "Maker Governance," the Maker Protocol (also known as the MCD system) allows users to earn Dai. Maker Governance is the mechanism by which the Maker Protocol's numerous elements are overseen by the community. Soft-pegged to the US Dollar, Dai is an unbiased, collateral-backed cryptocurrency. Dai's low volatility makes it resistant to hyperinflation, making it accessible to everyone.

Overview

• There is a positive correlation between the amount of collateral tokens and the volume of DAI that is minted.

• This makes sense given the requirement of collateral when borrowing or minting DAI. The volume on MakerDAO increases proportionally with the number of collateral tokens that are added to Maker (in terms of DAI minting).

• This can be observed in the graph that is located above, where there is a clear trend suggesting that when a day has a significant number of collateral tokens, the amount of DAI that is minted on that day also has a high quantity.

Tokens that have impacted volume the most

• The token with the highest overall collateral value expressed in USD had the greatest impact on the generation of DAI.

• As of the concentrations of yellow bars in the above chart is that observable WETH has taken over and now has the highest overall collateral value on MakerDAO, which is measured in USD. According to this, it's means that the WETH token has the largest impact on the minting of DAI.

• This is due to the fact that users can only borrow DAI if they first deposit Ethereum-based assets as collateral. In this scenario, the most common kind of collateral deposit is WETH.

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