Why have I been increasing my position by $MKR recently!?️2000 yuan of $MKR is still undervalued! ?️ Those who have been following me know that one of my heavy positions is $MKR @SkyEcosystem, and I have been silently adding $MKR 😂😂 positions in the past few months when others have been playing meme With the passage of the stablecoin bill and a series of recent DeFi good news, the price of $MKR is slowly catching up, and I would like to share 4 reasons why 👇🏻 I continue to be optimistic about $MKR ——————————————— 🔵 Benchmark Circle Valuation 💵 I believe everyone has seen the popularity of Circle in the U.S. stocks, and the stablecoin track has become the new darling of institutions, because the cash flow of stablecoin companies is very good. Circle's annual profit is 200M, which is backed by the yield of U.S. Treasury bonds, and the economic model is simple and violent~ $MKR, which is also a stablecoin track, currently has 7B stablecoins (USDS/DAI) issued, and the estimated annual profit after deducting various expenses is 100M, which is half of Circle, but now FDV does not have one-tenth 🥲 of it ———————————————— 🟡 Token empowerment 🔥 A portion of the proceeds from the treasury will be used to buy back $MKR and burn it, which currently burns 5K USD equivalent of $MKR every 30 minutes, which is 7.2M per month. Another part will be used to distribute staking rewards, and currently staking $SKY has 13% APR. Strong and stable treasury cash flow allows MakerDAO to print money and give it to token holders~ ———————————————— 🔴MKR<>SKY conversion 🔄 $MKR the holder converts to $SKY, otherwise the tokens in their hands will be burned. As a first-generation DeFi OG project, MakerDAO has many tokens that are believed to have been lost/no longer in circulation, and these parts will be burned after the conversion time has passed. The current conversion rate is only 50%, and it is expected that 10-15% of the tokens will be burned in the end, which is definitely good for the currency price ———————————————— 🟢Spark TGE 🚀 @sparkdotfi is a sub-project of $SKY, and I feel that it is very hot after cooperating with @cookiedotfun recently, and many CTs have discussed it~ At present, only the USDS pool on the @pendle_fi can earn points (I will share my opinion on YT later)~ This project has a great chance to launch a TGE in the next month, and it will definitely set off a lot of discussion at that time, which will help stimulate the price of $SKY coin. Assuming that the stablecoin track belongs to the general trend in the second half of the year, the ceiling of $MKR is far from visible 🫡