{"id":120158,"date":"2023-07-10T05:05:27","date_gmt":"2023-07-10T05:05:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/a-look-at-how-makerdao-benefits-from-the-growth-of-lsds-crypto-news\/"},"modified":"2023-07-10T05:05:30","modified_gmt":"2023-07-10T05:05:30","slug":"a-look-at-how-makerdao-benefits-from-the-growth-of-lsds-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/a-look-at-how-makerdao-benefits-from-the-growth-of-lsds-crypto-news\/","title":{"rendered":"A look at how MakerDAO benefits from the growth of LSDs\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em>MakerDAO saw a surge of interest in wstETH on its vaults.<\/em><\/li>\n<li><em>MKR price continued to increase along with its velocity.<\/em><\/li>\n<\/ul>\n<p>Due to the dominance of the LSD (Liquid Staking Derivatives) sector, many protocols such as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/MakerDAO\" data-wpel-link=\"internal\">MakerDAO[MKR]<\/a>  have failed to compete with the likes of Lido.  However, according to recent data, it appeared that MakerDAO could benefit from the growth of LSDs going forward.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Realistic or not, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">Here&#8217;s MakerDAO&#8217;s market cap in BTC&#8217;s terms<\/a><\/p>\n<hr\/>\n<h4>Is MakerDAO anti-fragile?<\/h4>\n<p>Based on new data, LSDs are at new highs on the MakerDAO protocol.  The WSTETH-B vault holds an impressive 309 million DAI, while the WSTETH-A vault accumulated 221 million DAI.<\/p>\n<p>Additionally, the RETH-A vault recorded a substantial amount, with 21 million DAI.  These figures reflected the growing popularity and adoption of Liquid Staking Derivatives within the Maker Protocol.<\/p>\n<div id=\"attachment_326213\" style=\"width: 1210px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326213\" class=\"wp-image-326213 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF.png\" alt=\"\" width=\"1200\" height=\"600\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF.png 1200w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF-300x150.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF-1024x512.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0cheUtacAIyodF-768x384.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326213\" class=\"wp-caption-text\">Source: MakerDAO<\/p>\n<\/div>\n<p>This trend has positive implications for MakerDAO as it demonstrates the protocol&#8217;s ability to cater to users seeking exposure to staking rewards while leveraging their staked assets as collateral for generating DAI.  It also indicates that competing in the DeFi sector is not a zero-sum game and one protocol can benefit from another&#8217;s progress.<\/p>\n<p>The prominence of LSD-based assets has reached a noteworthy stage, where wstETH has exceeded ETH as the primary crypto collateral for generating the highest amount of DAI debt on the MakerDAO protocol.  At press time, the cumulative DAI debt generated from wstETH stands at 530 million.  It surpassed the 497 million DAI debt generated from ETH.  This shift in dominance underscores the growing popularity and acceptance of wstETH as the preferred choice for collateralization and DAI generation within the MakerDAO ecosystem.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">WSTETH has surpassed ETH as the crypto collateral with the highest DAI debt:<\/p>\n<p>\u2022 530 million DAI generated from WSTETH<br \/>\u2022 497 million DAI generated from ETH <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dxxahkEPuK\" data-wpel-link=\"external\">pic.twitter.com\/dxxahkEPuK<\/a><\/p>\n<p>\u2014 Maker (@MakerDAO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MakerDAO\/status\/1677021567514185728?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">July 6, 2023<\/a><\/p>\n<\/blockquote>\n<p>This shift was driven by the WSTETH-B vault type, which reached a new all-time high of 309 million DAI in total debt.<\/p>\n<div id=\"attachment_326216\" style=\"width: 2410px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326216\" class=\"wp-image-326216 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"2400\" height=\"1200\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3.jpeg 2400w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-300x150.jpeg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-1024x512.jpeg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-768x384.jpeg 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-1536x768.jpeg 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-2048x1024.jpeg 2048w\" data-lazy-sizes=\"(max-width: 2400px) 100vw, 2400px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3.jpeg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326216\" class=\"wp-image-326216 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3.jpeg\" alt=\"\" width=\"2400\" height=\"1200\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3.jpeg 2400w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-300x150.jpeg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-1024x512.jpeg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-768x384.jpeg 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-1536x768.jpeg 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/F0X6O6CaUAAF0r3-2048x1024.jpeg 2048w\" sizes=\"auto, (max-width: 2400px) 100vw, 2400px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326216\" class=\"wp-caption-text\">Source: MakerDAO<\/p>\n<\/div>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/maker-profit-calculator\" data-wpel-link=\"internal\">Check out the MakerDAO Profit Calculator<\/a><\/p>\n<hr\/>\n<h4>How is MKR doing?<\/h4>\n<p>Coming to the token, it was seen that MKR&#8217;s price increased materially over the last week.  At press time, MKR was trading at $924.74.  The velocity of the token had increased during this period as well indicating that the activity around the token had surged immensely.  However, in tandem with its price, the MKR&#8217;s MVRV ratio also grew.  A rising MVRV ratio highlighted that the incentive for MKR holders to sell their holdings could be very high at press time.<\/p>\n<div id=\"attachment_326222\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326222\" class=\"wp-image-326222 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-326222\" class=\"wp-image-326222 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Maker-MKR-16.08.01-09-Jul-2023-2048x693.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-326222\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MakerDAO saw a surge of interest in wstETH on its vaults. MKR price continued to increase along with its velocity. Due to the dominance of the LSD (Liquid Staking Derivatives) sector, many protocols such as MakerDAO[MKR] have failed to compete with the likes of Lido. However, according to recent data, it appeared that MakerDAO could [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":120159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-120158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=120158"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120158\/revisions"}],"predecessor-version":[{"id":120160,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120158\/revisions\/120160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/120159"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=120158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=120158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=120158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}