MakerDAO: the current mortgage rate is 154%, and the PSM reserve is $3.15 billion
On March 11, the latest data released by MakerDAO on social media showed that the current mortgage rate of the Maker system was 154%, that is, 5.38 billion DAIs were supported by collateral worth 8.26 billion dollars. MakerDAO did not trigger liquidation in the past week, and the system operated as expected. In addition, PSM is currently operating smoothly as expected, with a reserve of $3.15 billion and a 100% mortgage to support 3.15 billion DAI.
Interpretation of this information:
According to the latest report released by MakerDAO, the current mortgage rate of the Maker system is approximately 154%. This means that 5.38 billion DAIs are supported by collateral worth approximately 8.26 billion dollars. The report also indicates that the system has been operating smoothly as expected and has not triggered any liquidation in the past week. Furthermore, the PSM is currently operating smoothly, with a reserve of $3.15 billion, and a 100% mortgage rate to support 3.15 billion DAI.
This report is an indication of the stable and efficient operations of the Maker system. The Maker system works on the Ethereum blockchain and allows users to issue and trade the DAI stablecoin. The Maker system uses a decentralized finance (DeFi) mechanism called a collateralized debt position (CDP) to back the DAI stablecoin. This involves users depositing collateral, such as Ethereum or other tokens, which are then held in a smart contract until the DAI is repaid. The Maker system uses an algorithm to ensure the collateralization ratio is maintained, to avoid the sudden devaluation of the DAI.
The report emphasizes the stability of the Maker system and its efficient operations. The system is designed to operate without the need for a centralized authority. The PSM, which is a feature of the Maker system, is a tool that allows users to exchange DAI for USDC directly. This allows for the stabilization of the DAI price and reduces the risk of price volatility.
In summary, the recent report released by MakerDAO emphasizes the efficiency and stability of the Maker system. The system operates smoothly and has not triggered any liquidation in the past week. The PSM is also operating smoothly, creating a reserve of $3.15 billion, and a 100% mortgage rate to support 3.15 billion DAI. The three keywords that summarize the report are Maker, stability, and efficiency.
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