Did you know? There are More DAI in Compound than there are DAI tokens itself.
There are currently far more DAI in supply on Compound than there are actual DAI in existence.
According to Compound, there are currently over 350 MIllion DAI lended on the lending platform.
This is despite the fact that there are only close to 160 Million DAI tokens on the Ethereum (ETH) blockchain.
The explanation for this is that Compound counts each deposit of DAI as additional gross supply, even if that DAI was just borrowed and re-deposited.
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@blokblog
posted
4 years ago
Another reason why these endeavors are extremely risky.