Table of Contents:

1. Introduction to MakerDao
2. Methodology
3. MakerDao deposits daily
4. MakerDao deposits per asset
5. MakerDao repayers
6. MakerDao Voters
7. Conclusion

1. Introduction to MakerDao

The MakerDao Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community-organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere (MakerDao_WhitePapers).

Sources:

MakerDao white papers

Wikipedia of Dai

2. Methodology:

   In this dashboard, I will analyze MakerDao and see how it has been working recently. For this matter, I used FlipsideCrypto data.

   I wrote four queries, and I will discuss the used tables for each.

   A. MakerDao deposits daily:

   for this query, I used ethereum.maker.ez_deposits and ethereum.core.fact_hourly_token_prices. In this query, I showed the deposits to MakerDao and the distinct users, Events and volume per day.

   B. MakerDao deposits per asset:

   For this query, I used ethereum.maker.ez_deposits and I found the assets which have been deposited.

   C. MakerDao repayers:

   For this query. I used ethereum.maker.ez_repayments and ethereum.core.fact_hourly_token_prices and I showed the repayers per user, event and volume.

   D. MakerDao Voters:

   For this query. I used ethereum.maker.ez_governance_votes and ethereum.core.fact_hourly_token_prices and

   ethereum.core.fact_transactions.

3. MakerDao deposits daily

In these chart it can be seen that in the present year in three occasions, at the end of Jan., at the middle of May and the middle of Jun. the deposition into the MakerDao went high and immediately in the next days it dropped immediately.

4. MakerDao deposits per asset

In this chart it is well demonstrated that what are the most deposited assets into the makerdao.

the most deposited asset is WETH, and when we look at the previous charts and compare them to the price of ETH in this occasions it can be seen that when ever the price of ETH dropped the users rushed to loan their ETHs into the makerdao and gain loans.

5. MakerDao repayers

6. MakerDao Voters:

In this chart, the participation of voters in the MakerDao polls can be seen. in the latter chart the average of paid fees and the total of paid fees can be seen.

7. Conclusion:

   The presented charts show that when the price of ETH dropped, the users deposited their WETHs to MakerDao, which shows how MakerDao successfully attracted funds in the bear market. If the bear market continues, MakerDao will gain more funds from the market, and clearly, the benefit of MakerDao is in the continuation of a bear market. How ever, they should think of new loans useful for the cow market, like giving different coins instead of depositing Dai-the reverse cycle of what we have now-.