DAI's suicide rate hike has reached 8%! MakerDAO declares war on banking giants. Trump's stablecoin USD1 has seen selling pressure | DeFi stablecoin DAI | MakerDAO tutorial | Mortgage loan

DAI's "suicide rate hike" has reached 8%! MakerDAO declares war on banking giants, Trump's stablecoin USD1 has seen a sell-off pressure of 8% and high interest rates to detonate the giant whale operation! MakerDAO has fully reshapes the competitive landscape of DeFi. A veteran DeFi protocol uses interest rates to bombard the market. In the smoke of the stablecoin war, MakerDAO's 8% high-interest deposit is bringing Giant Whale Capital and retail investors into the vortex at the same time. There will never be a shortage of amazing moves in the crypto world, but MakerDAO's decision in July this year still caught the whole market. The DAI deposit rate (DSR) suddenly rose to 8%, far exceeding the US dollar deposit rate of traditional banks and also crushing the yield of most DeFi protocols. The giant whale moved when she heard the wind. On-chain data shows that a mysterious big player quickly sold 5,640 ETH (worth about US$10.32 million) in exchange for DAI, mortgaged 5,400 wstETH and borrowed 4 million DAI, and eventually deposited a total of 14.32 million DAI into MakerDAO, intending to lock in this rare high profit. --- 01 Interest rate explosion, DAI's 8% deposit interest rate on the eve of the drastic changes in the market structure was not an isolated event, but a key leverage for MakerDAO's brand reshaping plan. On July 15, MakerDAO co-founder Rune Christensen announced the upgrade of DAI and MKR to a unified brand: NewStable (NST) and NewGovToken (NGT). The core of this strategy is to solve the long-standing "DAO coordination problem". Christensen frankly pointed out: "Theoretically, DAO allows strangers to cooperate freely on the Internet and benefit each other. But in reality, most people only care about personal interests." Behind brand unity is exquisite economic incentive design. After upgrading to NST, users can mine SubDAO tokens for free, including the SPK of one of the six initial subDAO tokens (represented by Spark Protocol). The inflow of capital attracted by high interest rates will provide adequate fuel for this grand transformation. The current total locked value of DAI pool (TVL) has exceeded US$400 million, and the growth momentum has not diminished. 02 Brand reshaping, governance token value reconstruction. MakerDAO's brand reshaping goes far more than superficial name change. It touches on the most core governance architecture and economic model of the protocol. The upgrade includes two key mechanisms: the repricing ratio of MKR to NGT is 1:12,000, and the ability of NST holders to mine SubDAO tokens. This design solves the long-standing problem in the DeFi field - the practical utility dilemma of governance tokens. NGT not only represents governance rights, but also directly relates to the benefits generated by SubDAO innovation. The introduction of SubDAO is the most revolutionary innovation in the Endgame program. By separating complex functions into different subDAOs, Maker avoids the bloated and inefficiency of a single DAO. Self-organized SubDAO community can innovate, build and distribute products on core DAOs, generate revenue and feed back to the entire ecosystem. The governance layer also introduced the AI tool Atlas as a "living rule set" to set objective boundaries for subDAOs and lockers. AI does not "run" DAO, but serves as an interface layer, allowing ordinary participants to easily understand complex governance rules. 03 High interest rate strategy, the subversion signal of traditional finance, MakerDAO's 8% high interest rate decision is at a critical moment when traditional financial institutions make large-scale entry into stablecoins. The global stablecoin landscape is undergoing a profound reshuffle: - The regulatory framework is accelerating: The U.S. House of Representatives will discuss the stablecoin regulatory framework this week, requiring issuers to reserve in full US dollars and short-term notes and disclose monthly - Traditional giants collectively enter: Fiserv plans to launch FIUSD by the end of the year; Bank of America and Morgan Stanley internally evaluate stablecoins; FASIC plans to issue US dollar stablecoins through digital asset subsidiaries - Secret layout of retail giants: Walmart and Amazon have discussed issuing stablecoins. Although Walmart said there is no plan yet, the giant's intention has shown that DAI's market value of US$1.62 billion ranks fourth in the world's stablecoins, becoming the banner of decentralized stablecoins. The 8% deposit interest rate is not only a tool for attracting users, but also a positive challenge to traditional financial inefficient systems. 04 Undercurrents, the dual challenges of regulation and governance MakerDAO's enterprising strategy faces severe challenges. The EU's MiCA regulations have become the biggest external threat. Founder Christensen warned: "If European regulators implement a licensing system for each DeFi, it may seriously undermine the development of DeFi in Europe." He said bluntly: "(implemented as originally planned) will bring Europe back to the Stone Age of DeFi." Internal governance disputes are equally fierce. In February this year, an "emergency governance proposal" was quickly passed without warning, significantly increasing the MKR borrowing ceiling (25 million → 45 million USDS) and reducing the mortgage rate (200% → 125%). Officially explained it to prevent "governance attacks", but the community found that there was a lack of specific evidence of the attack. What is even more disturbing is that several doubters (including GFX Labs) were banned from official channels during the vote. These events exposed the deep contradictions in decentralized governance: the problem of balancing efficiency and transparency. The core doubts of the community are unresolved: How to ensure that major proposals do not bypass consensus in the name of "emergency"? How to rebuild trust in governance processes? 05 Value revaluation, MKR's scarcity premium logic In MakerDAO's grand transformation, MKR's investment value is being reevaluated by the market. The core support point lies in its scarcity design - the total amount is constant at 1 million and it is continuously destroyed through debt auctions. As DAI demand grows, increasing stable fee income may trigger more MKR repurchase and destruction, forming a deflation cycle. Data in March 2025 showed that when DAI demand rose, MKR price rose 3.2% to $2,500 simultaneously, and trading volume increased by 4.7%. Professional analysis believes that MKR has to meet three key conditions for impact of US$20,000: DAI has become the mainstream tool for cross-border payments; it has expanded to traditional institutional lending scenarios; and the implementation of crypto ETFs has promoted the surge in institutional allocation demand. Technical indicators also send positive signals. In March 2025, the MKR price stabilized above the 50-day moving average ($2300), with an RSI of 68 (close but not overbought), indicating that the upward momentum continues. 06 Investor Guide, Finding certainty in change For DeFi investors, MakerDAO's transformation period contains both opportunities and risks. Smart capital is laying out from three dimensions: - Interest rate arbitrage window: utilizing the interest rate of 8% DAI deposit rate and traditional finance, but we need to be wary of interest rate sustainability and adjustment risks - Brand upgrade dividends: Pay close attention to the migration progress of NST and NGT, and the mining of SubDAO tokens (such as SPK) may create early dividends - Governance token revaluation: MKR/NGT's deflation mechanism and governance rights appreciation potential form a unique combination, but governance centralized risk investors should establish a key indicator monitoring system: DAI daily trading volume exceeds US$10 billion will become an important milestone; MakerDAO governance proposal pass rate reflects community health; implicit volatility changes in MKR options on mainstream exchanges indicate price turning point. Regulatory dynamics require more vigilance. Details of the implementation of the EU MiCA and the legislative process of the US stablecoin may all become turning points in DeFi valuation. --- The stablecoin battlefield has never been so crowded. Trump's World Liberty has issued USD1 (market value of US$2.2 billion), PayPal launched a US dollar stablecoin as early as 2023, and traditional banking giants are plotting to enter the market in the conference room. MakerDAO launches not only profit products with 8% high interest rates, but also signals flares that DeFi declares war on the traditional financial system. When news of Societe Generale preparing to issue stablecoins came out, Christensen, founder of MakerDAO, warned on social platforms that European regulation could bring DeFi to "return to the Stone Age." The result of this war will determine the power map of global finance in the next decade.