MakerDAO-1.DAI Volume (May 13)

    How does the daily volume of DAI transactions compare to other stablecoins? What is DAI most used for?

    Analysis

    Stable coins being considered are

        	'DAI', 'USDT', 'USDC', 'GUSD', 'TUSD', 'BUSD', 'UST', 'EURS', 'MIM', 'EURN',
      	'PAX', 'SUSD', 'USDN', 'USDP', 'RSV', 'LINKUSD', 'FRAX', 'EURT', 'PAR', 'SEUR', 'AGEUR'
    
    • Default number of months is 3, but that can be updated in the parameters.

    DAI Transaction Volume vs other Stable Coins

    • Here is what the comparative analysis of how DAI compares against other stablecoins on the Ethereum Network
    • DAI is the stablecoin with the fourth highest volume, after only USDT, USDC and UST recently.

    What is DAI most used for?

    From looking at the uses of DAI, DAI is mostly used for swapping to other tokens, especially to be added to LP pools as liquidity with other stable coins.

    • The most common pair that DAI is swapped to WETH, followed by OHM
    • There are about 199 distinct wallets that have swapped DAI for WETH in the past 3 months.
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