DeFi Lender MakerDAO Goes TradFi and Doubles Revenue
MakerDAO now generates half of its revenue from real-world assets, like short-term bond ETFs, and staking rewards on its holdings of Gemini's USD-pegged stablecoin. Currently, MakerDAO estimates it will see $20.2 million in. MakerDAO is made up of MKR token holders, who vote to determine interest rates and updates to the protocol.
MakerDAO is the largest decentralized finance (DeFi) protocol, with $8.3 billion worth of assets on its lending platform, according to DeFi Llama. As of Friday morning, that represents almost 15% of the $56 billion worth of assets in all of DeFi—a catch-all term for automated, permissionless financial tools accessible on blockchain networks. The Maker protocol is run by a DAO, or decentralized autonomous organization.
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