🧵Many people don't know that behind @sparkdotfi there is a hidden big shot @phoenixlabsdev.
Not only is it the development team of #SparkFi, but it is also the technical core of @MakerDAO. The $SPK airdrop, stable APY, and skyrocketing TVL that you are familiar with all have its influence.
The Twitter Premium page crashed wildly, and with the blue V expired, I can only write threads today👇
@cookiedotfuncn @cookiedotfun
#CookieSNAP #Pendle
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justin
In case Curve featuring the pool in the "Best Yields of the Week" or the Asym account shouting it from the rooftops didn't hit your timeline... Here it is again.
30%+ yield on stables.
Paid in DAI and CRV.
No catch. It's that simple.
Asymmetry (USDaf: LIVE!)
The BEST Stablecoin Yield anywhere?!
AF Power Pool on Curve is 36.07% REAL yield, in DAI & CRV
Deposit USDC/USDT/USDaf to earn!
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CryptoRank.io
🇺🇸 Offshore stablecoins still dominate, but U.S. growth is accelerating
Over the past year, U.S.-based stablecoins like $USDC and $PYUSD have more than doubled in supply, growing +104% to $67.5B.
Meanwhile, non-U.S. stablecoins, led by $USDT, $USDe, $DAI, and $USDS, showed more moderate growth at +41%, but still account for the majority of the global stablecoin market.
✍️ Growing supply of U.S. stablecoins reflects improving institutional appetite, supported by clearer regulation and renewed confidence in American issuers.
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Lucy reposted
Lucy
The first phase of the Spark @sparkdotfi Ignition Airdrop eligibility check is now open, come and take a look.
Eligibility criteria include: having used SparkLend, holding USDS, sUSDS, sUSDC, DAI, sDAI, xDAI, or SAI, and interacting with specified chains and protocols.
Complete eligibility details:
Ecosystem partners: @SkyEcosystem @pendle_fi @MorphoLabs @arbitrum @aave @0xfluid @CurveFinance @LidoFinance @base @0xPolygon @GnosisDAO @Optimism @ethena_labs
After claiming, you can also stake the airdrop to unlock the second phase Overdrive acceleration rewards, check it out now:
#SparkFi #CookieDAO #Cookie #Spark #SNAPS @cookiedotfun @sparkdotfi
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Abhi
Key Stats & Insights into the Plasma Deposits
Spent some time digging through Plasma’s deposit data on Dune and found some important insights worth highlighting, especially with the upcoming public sale around the corner.
Quick Overview of Plasma Deposits 🔽
Plasma recently hit a key milestone: $1 Billion in PlasmaUSD deposits, with 2,928 unique depositors contributing funds.
These stablecoin deposits (USDC, USDT, USDS, DAI) are automatically converted into USDT, bridged directly onto the Tether chain, and used to earn consistent yields via reputable, audited DeFi protocols (Aave and Maker, with a combined $2.6B+ in TVL).
Breakdown of Deposits by Stablecoin 🔽
→ USDC is the largest share, with $584M deposited across 1,554 depositors.
> Median deposit: ~$18k
> Average deposit: ~$376k
> Largest single deposit: $50M
→ USDT follows closely, totaling $396M from 2,023 depositors.
> Median deposit: ~$7k
> Average deposit: ~$196k
> Largest single deposit: $23.7M
→ USDS saw fewer depositors (24), but larger deposits on average, totaling $16.7M.
> Median deposit: ~$15k
> Average deposit: ~$694k
> Largest single deposit: $7M
→ DAI had smaller total deposits ($3.4M) but demonstrated wider retail interest with smaller median deposits (~$123).
> Median deposit: ~$123
> Average deposit: ~$147k
> Largest single deposit: $2M
Deposit Concentration 🔽
→ A major insight from the data is the strong dominance by larger depositors:
> The top 10 depositors alone represent roughly 30% of all deposits, demonstrating considerable trust and confidence from larger institutions or individual whales.
> The single largest deposit is $50M, showcasing substantial institutional validation.
> Despite this concentration, smaller depositors, especially those using DAI, are actively participating, suggesting broad-based interest in Plasma’s yield strategy.
Why Plasma Keeps Raising Deposit Caps 🔽
→ Plasma has progressively expanded its deposit caps, from an initial $250M to $500M, and recently to a significant $1B. This isn't just growth for growth’s sake, there's a clear strategic logic behind it:
> Depositing stablecoins (USDC, USDS, DAI) into Plasma triggers an automatic conversion into USDT.
> After conversion, the funds are bridged onto the Tether blockchain, greatly enhancing liquidity, capital efficiency, and optimizing yield generation.
> This streamlined process reduces complexity, allowing Plasma to scale rapidly, increasing trust and market participation.
> The consistent rise in caps reflects the market’s recognition of Plasma’s effectiveness and reliability.
In summary → More deposits → USDT conversion → Efficient bridging (Tether chain) → Higher yield & confidence → Increased deposit caps.
Given the continued strong demand, it's logical to anticipate even higher caps in the near future.
Why This Really Matters 🔽
All these impressive metrics, strategic conversions, and streamlined bridging boil down to the critical upcoming event: Plasma’s public sale.
The initial valuation is around $500M, but with robust deposit growth, whale confidence, and efficient liquidity management, Plasma’s public sale is strongly positioned to deliver substantial upside.
This potential for multiple returns from its current baseline valuation is precisely why Plasma is capturing attention right now.
It's not just about impressive deposit numbers, it’s about the strong fundamentals setting the stage for a successful and highly profitable public launch.
---------
Hope you found this valuable, and enjoyed reading this
- AP
The current price of DAI is $0.99980. Over the last 24 hours, DAI has decreased by -0.01%. It currently has a circulating supply of 3,643,630,158 DAI and a maximum supply of 3,643,630,158 DAI, giving it a fully diluted market cap of $3.64B. At present, DAI holds the 18 position in market cap rankings. The DAI/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
DAI is a decentralized stablecoin designed to maintain a value of one US dollar. It is a product of MakerDAO, a decentralized autonomous organization (DAO) built on the Ethereum blockchain. The project was proposed by Rune Christensen, the founder of MakerDAO, in 2014 to create a stablecoin that was decentralized, transparent, and backed by collateral.
The first version of DAI, called Single-Collateral Dai, was launched in December 2017 and was initially backed only by Ethereum (ETH). Later, the Dai Stablecoin System evolved into a Multi-Collateral Dai system that allows different assets as collateral to back the stablecoin.
DAI has gained popularity as one of the most widely used decentralized stablecoins in the cryptocurrency ecosystem. By being backed by collateral and not pegged to a fiat currency, DAI can maintain its value stability while being transparent and accessible to everyone.
Unlike traditional stablecoins, such as Tether (USDT) and USD Coin (USDC), which are backed by fiat currency reserves, DAI is backed by collateral. Specifically, it is supported by Ethereum and other ERC-20 tokens deposited into a smart contract called a collateralized debt position (CDP).
The value of the collateral is maintained at a minimum of 150% of the value of the DAI that is issued. This ensures that there is always sufficient collateral to back the stablecoin and maintain its stability.
How does DAI work
The technology behind DAI is complex but can be broken down into several key components. The first component of the DAI technology is the CDP smart contract. This smart contract is used to collateralize assets to back the DAI stablecoin. Users can deposit Ethereum and other ERC-20 tokens into a CDP and receive DAI in return.
The value of the collateral is maintained at a minimum of 150% of the value of the DAI that is issued. This ensures that there is always sufficient collateral to back the stablecoin and maintain its stability.
The second component of the DAI technology is the stability mechanism. The stability mechanism is designed to ensure that the price of DAI remains stable at one US dollar. If the price of DAI rises above one US dollar, then the MakerDAO system incentivizes users to create more DAI by lowering the interest rate on CDPs.
If the price of DAI falls below one US dollar, then the MakerDAO system incentivizes users to buy back DAI by raising the interest rate on CDPs. This mechanism ensures that the price of DAI remains stable over time.
The third component of the DAI technology is the governance system. The governance system is used to manage the MakerDAO platform and make decisions about its future. Anyone who holds the DAI governance token can participate in the governance system.
The system is designed to be decentralized and transparent, with voting rights weighted by the amount of DAI each user holds. The governance system is responsible for making decisions about changes to the platform, such as adjusting the stability mechanism or adding new collateral types.
The final component of the DAI technology is the Ethereum blockchain itself. DAI is built on top of the Ethereum blockchain, which provides a secure and decentralized platform for creating and managing the stablecoin. The Ethereum blockchain stores the smart contracts that power the DAI system and executes transactions between users.
What is DAI used for
The DAI stablecoin is used for various purposes in the cryptocurrency ecosystem. One of its most significant use cases is as a medium of exchange. It can be used to buy and sell goods and services like any other currency. Additionally, it can be used as a store of value, as its price stability makes it an attractive alternative to volatile cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Another critical use case for DAI is accessing decentralized finance (DeFi) applications. DeFi is a new and rapidly growing field that uses blockchain technology to create financial applications that are decentralized, transparent, and accessible to everyone.
Many DeFi applications use DAI as a stablecoin because it offers a stable value that is not subject to the volatility of other cryptocurrencies. As a result, DAI is used in various DeFi applications, including lending, borrowing, and trading.
The DAI token itself is used to govern the MakerDAO platform. Holders of DAI can participate in the MakerDAO governance system, allowing them to vote on proposals and make decisions about the platform's future. The governance system is designed to be decentralized and transparent; anyone can participate by holding DAI tokens.
About the founders
The founders of MakerDAO are Rune Christensen and Andy Milenius.Rune Christensen is the CEO and co-founder of MakerDAO. He has a background in design and entrepreneurship, having previously founded a web development and design agency. Christensen has been the driving force behind the creation of DAI and the MakerDAO platform.
Andy Milenius was the CTO and co-founder of MakerDAO. He has a background in software engineering, having previously worked at Google and several startups. Milenius was responsible for the technical design of the MakerDAO platform, including the development of the smart contracts that power the system. Milenius left the company in 2019.
The MakerDAO team has created a revolutionary stablecoin backed by collateral and designed to maintain a stable value of one US dollar. The team has a deep understanding of blockchain technology and has been working on the concept of a decentralized stablecoin for several years.
The MakerDAO team is highly respected in the blockchain community and has received several awards and accolades. Additionally, the MakerDAO platform has been recognized as one of the world's most innovative and impactful blockchain projects.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 5.4K new posts about DAI, driven by 4K contributors, and total online engagement reached 8.4M social interactions. The sentiment score for DAI currently stands at 72%. Compared to all cryptocurrencies, post volume for DAI currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of DAI.
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Posts
5,369
Contributors
3,954
Interactions
8,429,439
Sentiment
72%
Volume rank
--
X
Posts
1,321
Interactions
690,286
Sentiment
65%
DAI FAQ
How much is 1 DAI worth today?
Currently, one DAI is worth $0.99980. For answers and insight into DAI's price action, you're in the right place. Explore the latest DAI charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as DAI, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as DAI have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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