📉 #MKR DefiLlama: #USDC held by MakerDAO as collateral for #DAI has fallen from $2.4bn at the start of the year to ~$520m currently (-78%).

Meanwhile, the role of Ethereum derivatives as collateral for DAI has increased dramatically. #wETH and #wstETH now represent the largest portion of DAI collateral, accounting for $4.3 billion, or 68%, of the total collateral value.

📝 #AAVE Community Aave holds vote on a proposal to convert the 1600 #ETH held in the treasury into #wstETH and #rETH. Voting will end on July 7th.

👀 Justin Sun pledged another 67,000 #wstETH, borrowed 58 million #DAI and invested in Maker. twww.witter.com

👀 Justin Sun translated 70,290 #wstETH (~ 147.4 mln #), 45 mln #USDD and 5,008.9 #ETH (~ 9 mln $) to the intermediate address 0xBCb7...07df1

0xBCb7...07df1 transferred 67K #wstETH and borrowed 59.8M #DAI from MakerDAO and then transferred those #DAI to MakerDAO to generate returns.

🥳 #NTRN Neutron launched #wstETH bridge connecting Ethereum liquidity to the Cosmos ecosystem

🕵️‍♂️ #GNO GnosisDAO exchanged 3000 #wstETH for 6.2 million #DAI and withdrew 16,800 wstETH from MakerDAO.

👀📝 #NEXT Connext released a statement calling for unification of open bridge standards, expressing support for its own LayerZero standards for Avalanche, BNB Chain and Scroll without support for Lido DAO. Concerns about #wstETH deployment.

🕵‍♂ Address associated with Justin Sun deposited $112 million worth of #wstETH into Prisma and released >$60 million in #mkUSD

🙋‍♂ #LDO Lido launched #wstETH on Base.

📊 #ETH #AAVE Kaiko: The transition from Aave V2 to Aave V3 and from #stETH/#astETH to #wstETH continues.

About 20% of wstETH supply is stored in Aave V3.