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Portfolio company Dharma Labs reviews MakerDao's greatest ever stress-test, with Dai spending most of March trading under its desired $1.00 USD peg. The company also revealed its tremendous growth, with over $280k in borrow volume and $350k in lend volume last week alone.
We’d be remiss if we didn’t mention the growth we’ve seen over the last week. We saw over $280,000 in aggregate borrow volume, most of it coming from Dai as a result of the increased stability fee. It will be interesting to watch whether or not CDP owners elect to borrow Dai or purchase it on the open market to pay back their debt. The lend side saw similar growth. We had over $350,000 in aggregate lend volume, which again, mostly came from Dai holders helping meet the influx of borrow demand. This past week, we were also offering the most attractive lend rates on the market. Passive holders could earn 6% APR on their Dai compared to ~3.5% APR on Compound.
https://dharmamarkets.substack.com/p/dharma-markets-report-5-visions-of
