Celsius made a significant payment to Compound today as it transferred $10 million of DAI to the latter service.
Celsius Pays Back $10 Million
Celsius has sent $10 million worth of the DAI stablecoin to Compound Finance, a popular interest-yielding DeFi service.
The Etherscan block explorer notes that the firm repaid 10 million DAI while also collecting 166 COMP ($5,200). Celsius has made a number of other repayments over the past week, as well. In a series of transactions, it paid $53.6 million DAI to its vault with Oasis Protocol, another yield-bearing DeFi platform.
Celsius utilizes various DeFi protocols to produce interest for its clients. Its latest $10 million payment likely means that it is closing positions with those services to regain liquidity and re-open withdrawals for its customers. Though this is likely a step toward solvency, today’s $10 million payment only makes up a small fraction of Celsius’ activity.
The week of May 6, for example, the company saw $397 million...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...