This bar-chart shows the top 10 addresses of UST holders. As shown in this chart, the top holder has near 300 million UST token. In the second place, the address with 220 million UST stands.

Introduction:

The Terra network has developed a system that has been able to offer various stable coins. These currencies include the UST (equivalent to the US dollar), the KRT (equivalent to the value of the South Korean won) and the SDT (equivalent to the SDR of the International Monetary Fund).

The network uses an algorithm to keep the price of stable coins stable, which is adjusted according to demand fluctuations for stable coins. For example, as demand for UST increases, so does the number of transactions, and as a result, prices rise. Therefore, in order for the price to remain constant, its supply must be increased.

MakerDAO is the name of a decentralized blockchain project. The DAI is a digital currency published by the same project. DAI belongs to the category of stable coins. DAI digital currency has branched out from the Ethereum blockchian. This means that this token (DAI) is actually a smart contract on the Ethereum platform. This smart contract is called "MakerDao".

In this bounty, the top 10 holders of UST and DAI stable coins are investigated.

note: The addresses related to the native foundation of each stable coin has not considered in this investigation.

The top 10 holders of DAI stable coin are shown in this figure. As shown in this figure, the address with highest amount of DAI holds 1.428 billion DAI and the rest of the addresses with their exact amount of holding DAI are shown, too.

Do you have any guesses to whom those addresses belong?

In this part, we want to talk about the top 10 holders and to know who they are. For UST top holders, according to my investigations and by the use of Apeboard, the UST holders are:

• Swap platforms like: Terraswap and Astroport
• Online platform for buying, selling, transferring, and storing cryptocurrency like Coinbase, Binance and etc.
• cosmos.bank , Osmosis, Axeler and etc.

For DAI tokens, the top holders as same as UST stable coin. Also, the list of DAI token holders is provided in the following image. This image is captured form Etherscan and as shown in this image, the main part of holders are pools, crypto buy platforms and bridges.