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Dai Supply Hits New Highs as Efforts to Restore Peg See Limited Success

The total supply for DAI tripled since June as the community keeps raising the supply limits to bring the peg down to $1. The MakerDAO community approved and executed a vote on Thursday to almost double the total debt ceiling, which indicates how much Dai (DAI) can be minted by its users. An announcement by the Maker Foundation posted on July 29 details the specific proposal to raise the debt ceilings for Ether (ETH), USD Coin (USDC), Wrapped Bitcoin (WBTC) and others. The vote passed at 8 a.m.
Coin Telegraph - 31st Jul 13:07