Understanding Maker's Direct-Deposit Modules Direct-Deposit Modules (D3Ms) are specialized pipelines that connect the Maker Protocol to various protocols needing liquidity and can provide outsourced yield on that liquidity. D3Ms establish wholesale credit lines denominated in DAI, enabling these external protocols to access DAI directly from Maker. The borrowed DAI is then strategically deposited to enhance liquidity within targeted markets. Currently, Maker has two active D3Ms: the Spark D3M and the Morpho D3M for the Spark MetaMorpho Vault. These D3Ms, powered by Maker, have a combined supply of approximately $1.2 billion — around $825 million to Spark and $400 million to Morpho. These two D3Ms are top performers in annual fee generation for MakerDAO, with Spark generating approximately $70 million DAI and Morpho generating around $55 million DAI in annualized fees. In essence, D3Ms enable the creation of new DAI, expanding the overall supply and influencing market dynamics. By strategically depositing borrowed DAI, D3Ms contribute to a more liquid and efficient DeFi ecosystem. For live stats on the D3Ms and more in-depth information, visit MakerBurn:
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