Influenced by the expansion of MakerDAO's Spark Protocol to Gnosis Chain, Gnosis Chain TVL doubled to $150 million from early October, while transaction volumes and fees on the network also increased significantly. The funds were used to boost savings rates through MakerDAO's Spark lending protocol, which currently offers interest rates of more than 7%. By bridging to the Gnosis Chain, more and more users are converting their xDAI to Savings xDAI, generating interest from all sDAI held by the main bridge. （The Block）

Golden Finance reported that according to Scopescan data monitoring, Curve founder Michael Egorov deposited 11 million CRV (approximately US$5.73 million) to Silo 6 hours ago and borrowed 1.8 million crvUSD. He then exchanged 1.8 million crvUSD for 1.55 million USDT to repay the debt on AAVE. There is also 250,000 DAI sent to the xDAI bridge.

Odaily Planet Daily News Gnosis Chain tweeted that OmniBridge and xDAI cross-chain functions will be suspended at 10:00 on the 31st (UTC+8), and will resume after the Shapeella hard fork.

On June 23, the GnosisDAO community launched a new proposal, suggesting that 25 million xDAI on the Gnosis Chain be deposited into the DAI Savings Rate (DSR). Gnosis Chain users can use xDAI to mint GC sDAI and accumulate DSR savings income. In theory, the DSR rate of return on the Gnosis Chain is always higher than that on the Ethereum mainnet, because the interest rate balance can only be achieved if all xDAI is pledged. Note: DSR is a variable interest rate set by MakerDAO governance, allowing DAI holders to earn savings income by locking their DAI in the DSR contract.