- MakerDAO tweeted that the total collateralization of the system is at 15.4%.
- The platform commented that there was no liquidation over the past week.
- It also announced the smooth functioning of PSM pointing out its aim to bring DAI stability.
MakerDAO, the open-source global financial system, updated its official Twitter account with the up-to-date details of the system claiming that its total collateralization is at 15.4% with $8.6 billion worth of the collateral backing $5.38 billion DAI.
Notably, on March 11, Maker DAO tweeted sharing the system’s collateralization, affirming that system has been working always as expected:
In addition, the platform highlighted that “no liquidations have been triggered during the last week”. MakerDAO also pointed out that the protocol of MakerDAO concentrates on the stability of DAI.
Prior to the former tweet, MakerDAO posted another message regarding the Peg Stability Module (PSM), the decentralized exchange allowing users to swap US-pegged stablecoins for DAI at a rate of 1:1:
Source: https://coinedition.com/makerdaos-total-collateralization-stands-at-15-4-report-says/