Question

• Excluding the respective foundations, what are the top 10 addresses by amount of UST held?
• What are the top 10 addresses by amount of DAI held?
• Do you have any guesses to whom those addresses belong?

Data Analysis

The chart below shows top 10 addresses by amount of UST held. According to this chart, most UST is held by an address called "Anchor Market".

Introduction

• DAI can be minted by pledging various other cryptocurrencies as collateral. When minting Dai, the collateral, ie ETH, must be much higher than the amount of Dai.
• UST is minted by burning LUNA currency. UST needs an equivalent of LUNA in USD to mint the same amount. Part of this Luna will be burned and another part will be reserved for community treasury.
• Comparing their marketcap now:

• Unlike other stablecoins, Dai and UST are decentralized. They have no central authority.

• Dai was launched in 2017 by MakerDao on the Ethereum network.
• UST was launched in September 2020 by Terraform Labs.
• Dai stability is maintained by collateralizing it with ETH in a smart contract algorithm. The downside for Dai is that the high volatility of Ethereum could affect Dai's price stability.
• UST price is stabilized by an smart contract algorithm and an elastic money supply mechanism.

The chart below shows top 10 addresses by amount of Dai held. According to this chart, most Dai is held by an address called "3Pool".