The proposal focuses on Optimism’s support for DAI in terms of total value locked (TVL), bridging, and swapping over the network. Updating the proposal, Maker reminded that:
“Since July 21’, Dai has been supported in the Optimism ecosystem through the Optimism official bridge. DAI is one of the most used stablecoins in Optimism with over ~$55M liquidity and it was the first stablecoin to reach 1M and 50M in TVL on Optimism.”
Not yet improved
While this plan signals positive development for the Maker ecosystem, its TVL hardly showed this. According to DeFi Llama, MKR’s TVL is 6.62 billion at the time of this writing.
This value represented an increase of 1.04% over the past 24 hours and a decrease of 19% over the past 30 days. So this means that the total cryptocurrency sent in Maker Protocol is negligible.
For daily deposits to the liquidity pool, DAI has the largest volume according to Dune Analytics. For other assets like ETH and USDC, adding the Maker Protocol to Optimism if approved could trigger a significant increase in liquidity pool commitment.
Another possible reason is the interest in layer 2 (L2) protocols in 2022. DAI further demonstrates its importance to the Maker ecosystem through the position of stablecoin rates.
According to Dune, the stablecoin rate for DAI is 65% at press time, while USDC is 48%. So, if integrated into Optimism, DAI can increase the dominance rate.
Supply Status
For other protocols on Maker, the metrics are mostly flat. According to Santiment, the total supply of AAVE on Maker has improved since Nov. 12. Currently, the total supply is 33,800.
This indicated more demand for the market maker and positive pressure from AAVE holders. On the other hand, the total Compound supply (COMP) was unchanged at 874. This position has remained since September.
However, Maker noted OP integration may not happen before the end of this year. According to the protocol, if the community agrees, it will be mutually beneficial for both projects.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision.
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