Justin Sun-linked wallet parks funds in MakerDAO after Dai yield hike: PeckShield

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By BitcoinWiki News

Key Takeaways:

– Tron founder Justin Sun’s crypto wallet conducted large transactions through an intermediary address.
– The funds were ultimately deposited into stablecoin issuer MakerDAO to capitalize on yield opportunities.
– The wallet transferred 70,290 wstETH tokens ($147.4 million), $45 million in USDD stablecoin, and 5,008.9 ether (ETH) ($9 million) to the intermediate address 0xBCb7.
– The address then deposited 67,000 wstETH ($141 million) into MakerDAO, borrowed $59.8 million in Dai stablecoin, and deposited it back into MakerDAO to generate yield.
– Sun’s move was in response to MakerDAO increasing the savings rate on Dai from 3% to 8%.
– This yield is offered through MakerDAO’s lending platform, Spark, and has led to significant capital inflows.
– Sun also purchased 5 million CRV tokens worth $2 million from Curve founder Michael Egorov following a hack incident.


Tron founder Justin Sun’s crypto wallet made large transactions through an intermediary address and deposited the funds into stablecoin issuer MakerDAO to capitalize on yield opportunities. The wallet transferred a significant amount of tokens and stablecoins to the intermediary address before depositing them into MakerDAO. This move was made in response to MakerDAO increasing the savings rate on its stablecoin, Dai. Sun’s wallet borrowed Dai from MakerDAO and deposited it back into the platform to generate yield. Additionally, Sun purchased CRV tokens worth $2 million following a hack incident.

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