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Assessing MakerDAO’s [MKR] health following its displacement by Lido

Leading decentralized finance protocol (DeFi) MakerDao [MKR] provided users with an overview of its current state in 2023. The DeFi protocol took to Twitter on 2 January to highlighted the amount of DAI tokens it had in circulation and its total value locked (TVL).

The tweet also highlighted MakerDAO’s collateralization ratio and the number of DAI tokens it held as System Surplus until the tweet went live. 

According to MakerDAO, the current circulating supply of its DAI stablecoin was 5.7 billion. This put it four places behind other stablecoins, including Tether [USDT], USD Coin [USDC], and Binance USD [BUSD], data from CoinMarketCap revealed. 

(By Abiodun Oladokun)

Dai Dai $1.00
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