August 10th, Justin Sun has currently staked a total of 157,000 stETH (worth approximately $330 million) and minted 1.178 billion DAI, which has been deposited into MakerDAO to earn its current 8% deposit interest rate. Based on the current deposit interest rate, Justin Sun's 1.178 billion DAI is expected to earn $6.53 million in one year, or approximately $17,900 per day.

On August 10th, according to DefiLlama data, the TVL of Spark Protocol, a lending protocol under MakerDAO, has reached $347 million, a five-fold increase in the past week. Earlier, on August 7th, MakerDAO passed and executed proposals to increase Spark Protocol's debt ceiling.

 Rune Christensen, the founder of MakerDAO, has released a community proposal covering "SparkDAO SPK pre-mining airdrops; SubDAO farming overview". The proposal details the possible SPK pre-mining airdrop plan for the lending protocol Spark Protocol and will review the second phase SubDAO mining economic model.

On August 10th, it was reported that the total amount of DAI deposited in MakerDAO's lending protocol, Spark Protocol, has exceeded $1 billion.

According to Twitter user Yu Jin monitoring, Sun Yuchen pledged 102,462 stETH coins (190 million US dollars) 7 hours ago to mint 77.8 million DAI coins, and then deposited the DAI coins into Maker. Currently, the DAI deposit interest rate (DSR) is 8%.

IPOR Labs team has announced that they have included an 8% Enhanced DAI Savings Rate (EDSR) in the IPOR DAI asset management contract. EDSR has now been merged with all audited relevant smart contract changes. The smart contract update allows IPOR DAI pool liquidity to be guaranteed by depositing it into MakerDAO's insurance fund and earning EDSR rewards.

The founder of MakerDAO released a new proposal about EDSR (Enhanced DSR) in the community. Within 48 hours since the activation of EDSR, the DAI supply has increased by nearly 500 million, and the DSR utilization rate has approached the threshold of 20%, which will automatically reduce EDSR to about 5.8%.

The MakerDAO community has approved a temporary increase in the annual returns for depositing DAI stablecoin into the protocol, allowing for an 8% yield on holdings. The interest rate earnings on DSR are enabled through Spark Protocol, which is not available to non-U.S. users or VPN-linked addresses. The MakerDAO community governs the Maker Protocol, which mints the dollar-pegged DAI against over-collateralized deposits of other cryptocurrencies. The total amount of DAI deposited in the DSR contract has jumped by 75.7% since the activation of EDSR, but the increased savings rate is temporary and will reduce toward the protocol's average stability fee of 3.19%.

MakerDAO has increased the yield on its stablecoin, DAI, from 3% to 8%, making it one of the highest rates offered by a major stablecoin issuer. A single crypto participant transferred 14.32 million DAI into MakerDAO's lending platform, Spark, likely to take advantage of the increased yield. Spark has recently restricted users from accessing its front end via virtual private networks (VPNs) to geo-block users from specific geographies, including the United States. This move is unusual in the DeFi sector and appears to specifically target U.S.-based users.

MakerDAO has faced criticism for blocking VPN users from accessing its new lending platform, Spark Protocol. The move is linked to Maker's attempt to restrict US users from accessing the platform, and Spark Protocol's terms of service prohibit US users from using a VPN to conceal their US residency.

Rune Christensen, co-founder of MakerDAO, believes that the recent exploit of Curve Finance may actually have a positive outcome for the decentralized finance industry. He compared it to the Black Thursday crash and suggested that it may be the last crash before a bull market. The exploit resulted in $24 million being drained from several stablecoin pools due to a vulnerability in Vyper contracts. Other blockchain leaders, such as Aave founder Stani Kulechov, also commented on the incident, acknowledging the difficulty of building resilient DeFi protocols.

MakerDAO, a major DeFi lending protocol, has voted to introduce the Enhanced DAI Savings Rate (EDSR) to boost demand for its $4.6 billion DAI stablecoin. The EDSR could increase the interest rate for DAI holders to as high as 8%.

Blockchain data from Arkham Intelligence indicates that Paradigm Capital may be preparing to sell its $3.5 million worth of MakerDAO governance token MKR. The data shows that 3,000 MKR were transferred from Paradigm's crypto wallet to an OTC wallet. This is not the first time Paradigm has made such a move, as in March they transferred $20 million of MKR to the same wallet before sending it to crypto exchange Coinbase. This move by Paradigm follows Andressen Horowitz's recent deposit of $7 million worth of MKR tokens to Coinbase.

MakerDAO's MKR token saw a 3% increase in price despite a broader market correction. This growth is attributed to increased ecosystem activity and the Maker Governance vote to approve or reject new Spark Protocol changes. The proposed changes could provide benefits to DAI borrowers, leading to increased market activity and demand for MKR. The ongoing poll has also increased trading activity and demand for MKR, with a significant increase in trading volume and attention from investors.

Blockchain data reveals that Andreessen Horowitz (a16z), a prominent venture capital firm, has sold a portion of its investment in MakerDAO's MKR governance tokens as the price of coins reached a near one-year high. The firm transferred $7 million of MKR from its crypto wallet to a new address, which then began depositing batches of tokens worth approximately $1.5 million per day to crypto exchange Coinbase. This move suggests that a16z intends to sell its tokens. Despite the sale, a16z still holds 1.3% of MKR's circulating supply, worth $14 million.

MakerDAO's native token MKR has experienced significant gains in July, with a rally extending its gains in 2021 to 122% from its low of $506.8 on January 1. On July 25, MKR spiked by over 12.5% to reach a daily high near $1,195 before correcting. The platform's recent announcement of a token buyback program and roadmap for updates, including plans to enter the AI sector and launch several internal AI tools, may have contributed to the token's rally. However, the bears are defending the $1,200 price level aggressively, while bulls are trying to ensure that MKR price consolidates above the $1,050 support level.

MakerDAO officially announced that its DeFi lending protocol, Spark Protocol, centered around the DAI stablecoin, has reached a new historical high in DAI lending volume, reaching 14.44 million tokens.

Aave's V3 lending protocol has attracted over 10,000 users in less than six months due to increased user activity. The value of assets locked (TVL) has grown by 60% since the launch of V3, reaching $6.12 billion at present. Aave's TVL growth has propelled it to replace MakerDAO as the second-largest DeFi protocol after Lido Finance.

The governance token of MakerDAO, MKR, has seen a surge in price following the introduction of a token buyback program. The token briefly reached a one-year high of $1,200 before settling at around $1,144. The buyback program, called the Smart Burn Engine, removes MKR supply from the market by allocating excess DAI stablecoins to purchase MKR from a UniSwap pool. MakerDAO is one of the largest and oldest DeFi lending protocols and is currently undergoing a major overhaul, including upgrading its tokens and breaking up its structure into smaller autonomous organizations.

According to makerburn data, MakerDAO's intelligent burn engine has been activated, with a current treasury surplus of $63.6 million, of which over $50 million ($13.6 million) will be used to repurchase MKR and add it to Uniswap V2 as LP along with DAI. According to on-chain information, repurchases are currently being executed approximately every 27 minutes, with an average repurchase amount of around $5,000.