DeFi

Does anybody know why 169m, or 10% of the staked DAI just got unstaked within the last week?

What's driving this exit?

Doing a bit of sleuthing... one whale swapped 4.3m to USDC and moved to... compound for a slightly lower yield ~4.5%.

Another whale, 7m to USDC to Aave. Also <5%

Another 1m left for frax

Casts about defi, ml, food, Singapore, etc. @alliance | ex: quant @twosigma @appfolio by acq

Doesn't look like much to worry about... 7 Siblings (0x741A) is responsible for biggest recent withdrawal but still has $120mm+ in sDAI

looks like they just moved around some debt on MakerDAO recently

they withdrew 64mm DAI from the DSR, used it to repay their Maker CDP, then withdrew 79k WETH from their CDP

Onchain boomer building out the world of decentralized networks, financial protocols, and DAOs. 
Current focus: vaults.fyi

onchain finance enthusiast @vaultsfyi 🏦 , wallfacer.io

Update: 7 Siblings deposited 79k into Spark, borrowed 49mm DAI against it, and then put the DAI into sDAI

so yeah, just moving around debt to optimize rates & farm rewards

and as @kaimi mentioned, rates across other vaults have been increasing lately

I can see one of the sDAI whales, forknounnoworlose36eth.eth, withdrew 7mm and moved it to Gnosis sDAI which is earning ~7%