Upgraded cDAI, and new cToken use-cases

In this week’s issue, we cover:

  • Upgrades to the cDAI market, including integration with the Dai Savings Rate (DSR)

  • Launches from projects building with Compound including TokenSets, KeeperDAO, and DeFiZap

  • Compound-related press and content from the Financial Times, Coindesk, and the Coinbase blog

Read on for more — and let us know what you think on Discord or Twitter!

Upgraded cDAI

On December 17, we announced that three planned upgrades to cDAI were queued into the governance layer of the protocol. These upgrades are now live for all users: first, an updated interest rate model for cDAI; second, the integration of the Dai Savings Rate such that all DAI held by the cDAI contract is swept into the DSR; and third, an increase in the collateral factor of cDAI, from 0% to 75%.

Of the 72 million DAI in existence, approximately 19 million are supplied to the Compound protocol.

TokenSets launches second cUSDC Set

TokenSets launched its second cToken-enabled Set this month – the ETH 20MA Crossover Yield Set, joining the ETH RSI 60/40 Yield Set. These “set-it-and-forget-it” trading strategies automatically rebalance user funds between ETH and cUSDC based on price movements for ETH, so that users are always either invested in ETH or holding the interest-earning stable asset cUSDC.

KeeperDAO launches to deploy pooled capital towards “keeper” strategies

KeeperDAO, a collaboration from Amber AI and a new group called Talo Systems that includes members of the Ren Protocol team, has announced a new protocol that incentivizes pooled participation in profitable “keeper” opportunities such as performing liquidations on the Compound protocol. Since these “keeper” opportunities are infrequent and unpredictable, pooled assets will sometimes sit idle; during those times they will be supplied to passive yield markets like Compound.

DeFiZap adds cDAI Uniswap support

DeFiZap added support for the cDAI Uniswap pool, allowing users to provide liquidity to Uniswap’s cDAI pool in just one click.

Behind the scenes, users provide Ether, half of which is converted into cDAI; both assets are then contributed to the Uniswap pool, an automated market-maker that provides liquidity to users looking to trade between Ether and cDAI.

Press & More

Tweet of the Week

Markets Overview

Supply is at ~$120 million from over 14,000 unique addresses. The biggest suppliers this past week minted $12 million of cETH, $3 million of cETH, and $2.6 million of cETH.

Borrowing is at ~$27 million from over 1,300 unique addresses. The biggest borrowers this past week borrowed $7.3 million of DAI and USDC, $1.5 million of DAI, and $400k of DAI.

For live figures please refer to our Markets page.

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A Year in Review: Token Economics

Happy New Year!