15h ago
In less than 3 months, @USDai_Official reached over $580m in TVL, making it the second-largest protocol on @arbitrum.
All of this while their TVL is currently capped.
Also interesting to observe is that for now, most of the reserves are in US-tbills (99.8%), with @0xZergs highlighting the complexities of purchasing GPUs at scale, but also that more is in the works there.
Demand for USDai was so high that, for a time, it broke the peg and traded as high as $1.05.
I'm personally excited to see what happens once they increase capacity and remove the cap.
They could easily become the biggest protocol on Arbitrum by TVL then 👀
5.83K
35
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.