MakerDAO Dai Backstop Syndicate auction tool announces progress, all MKR bids are higher than trigger price

The Dai Backstop Syndicate tool developed by the DeFi community announces the 12-hour progress of the MakerDAO debt auction including: all MKR auctions have been bidding, well above the 100 Dai / MKR reserve price; about 40 auctions have been conducted, and it is expected that it will take about 4 days More than 100 auctions; Backstop Syndicate has now raised approximately 337,000 Dais. The Dai Backstop Syndicate tool is a merger and acquisition DAO contract. Any number of Dais of ordinary users can participate in the auction, but it will only be triggered when the auction price is a single MKR of 100 Dai.