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    Head-to-Head: UST vs DAI

    This dashboard is an analysis of the top 10 addresses by amount of UST and DAI held. We will use metrics to evaluate the decentralised nature, net worth and top 10 share of these stables. Coming soon: Doxxing of these wallets. The wallets considered here are including the orgs so that we get a holistic picture. Soon I will be trying to doxx the top 10 wallets and publish the results. Stay tuned!

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    The top address that holds the most DAI amount is almost $500B

    as compared to UST amount of $8.6B. A huge difference

    This can be an important metric to evaluate the net worth of top wallets in both these stablecoins.

    Below we see the top 10 addresses and their holdings shared percentage in the top 10 to get a bit more clearer picture about decentralisation and in both the stablecoins.

    The top wallet in DAI holds 70.4% of the share of the top 10 whereas in Terra we see it drop to 59%. This shows that the UST holdings are comparatively more distributed.

    Collateral backing:

    UST is a algorithmic stablecoin working on a seignorage model backed by amount of LUNA burnt. Recently LFG passed a proposal buying BTC as a collateral by burning UST whenever there is a significant de-peg event for UST. This isa good move to reduce the volatility risks and make UST backing stronger.

    whereas DAI is already backed by collateral of ETH, BTC and USDC.

    It is great that UST is evolving by safeguarding it's stable coin pegs by learning a thing or two from DAI.

    Head - to- Head conculsion:

    Both these coins are algorithmic stablecoins are backed by crypto. whilst UST has more market cap than DAI, it also does have tremendous room to grow. This is great for the DeFi ecosystem that has so much room to grow.