MakerDAO Revenue Fell 42% in 2022 Amid Shrinking Crypto Lending Market
MakerDAO, which builds the platform that issues the DAI stablecoin, saw a marked decline in 2022 revenue, as the DeFi protocol launched a significant pivot from crypto-native lending to the real-world asset market, according to a financial report issued by Steakhouse Financial.
Total revenue decreased 42% to 65 million DAI ($65 million) in 2022 from 112 million DAI in 2021, the report said. This led to an 80% drop in the protocol’s net operating earnings to 19 million DAI last year from 90 million DAI in 2021. Operating expenses rose to 46 million DAI in 2022, more than double the figure reported the previous year.
MakerDAO Launches $5M Legal Defense Fund
According to a new social post on Feb. 1, Maker decentralized autonomous organization, or MakerDAO, has approved the creation of a new fund dedicated to expenses related to legal defense.
MakerDAO Has a New Proposal to Increase Compound D3M Debt Ceiling
In a new proposal, the Open Market Committee of leading decentralized finance platform (DeFi) MakerDAO has sought community approval to increase the maximum debt ceiling on its Compound DAI Direct Deposit Module (Compound V2 D3M) by 300% and to set the Target Available Debt on the same vault to 5 million DAI.
MakerDAO Passes Proposal To Deploy $100 Million USDC In Yearn Finance Vault
In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.”
Will MakerDAO Find Savior in YFI As MKR Declines
After its proposal in November to deploy $100 USD Coin [USDC] into the Yearn Finance [YFI] DeFi protocol, MakerDAO [MKR] finally approved it. Details from the poll showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the “Yearn to earn Yield” proposal.
MakerDAO Approves Deployment of $100M USDC on DeFi Protocol Yearn Finance
Decentralized finance (DeFi) giant MakerDAO’s community approved Monday a proposal to deploy up to $100 million USD Coin (USDC) from its reserve on DeFi protocol Yearn Finance, where the deposited stablecoin will earn a yield.
Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin
Stablecoin issuer Paxos proposed paying a steady fee to decentralized finance giant MakerDAO for holding up to $1.5 billion of Pax USD (USDP) stablecoin among its reserves.
MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves
Decentralized finance giant MakerDAO’s community voted for keeping Gemini USD (GUSD) stablecoin as part of the protocol’s reserve system for its DAI stablecoin in a dramatic vote that flipped at the finish line.
MakerDAO Favors Holding GUSD Stablecoin as Part of Reserve in Early Voting
Decentralized finance giant MakerDAO's community was heavily favoring keeping Gemini’s GUSD stablecoin as part of Maker’s reserve in an ongoing vote that is testing confidence in Gemini, the Winklevoss-founded exchange that has been swept up in recent crypto contagion.
MakerDAO Voting To Limit DAI Exposure to Gemini Amid Insolvency Fears
MakerDAO has begun voting on a pair of governance polls designed to limit exposure of the DAI stablecoin to Gemini as a result of the current liquidity crisis facing the exchange's lending platform called Earn.
DeFi Begins Recovery As TVL Exceeds $45 Billion
The bear cycle caused a lot of downturns in many sectors of the We3 industry including DeFi. However, following the ongoing so-called ‘mini bull run,’ we’ve seen DeFi TVL start to recover from the lower lows and surge by nearly 20% since the beginning of the year.
Investment Firm Société Générale Mints $7 Million in Stablecoin Loan From MakerDAO
Société Générale, a French multinational investment bank and financial services company, minted $7 million as a loan of dai stablecoin from its issuer MakerDAO.
Societe Generale Withdraws $7M in DAI From MakerDAO Vault
French banking giant Societe Generale has used its MakerDAO vault for the first time to withdraw $7 million worth of MakerDAO’s stablecoin DAI.
MKR’s Reversal May Not Be on the Cards As Burn Trial Takes Center Stage
According to an 11 January report covered by Santiment, the MakerDAO [MKR] price might not yet correct its trend despite being one of the year’s top performers. The governance token of the Maker Protocol began the year around $507.
DeFi Statistics in 2022
Nansen takes a look at how DeFi has performed and highlights interesting statistics about DeFi.
Assessing the Current Status of MakerDAO for Long-Term MKR Holders
MakerDAO [MKR], the protocol which was reigning atop the DeFi space in terms of TVL, lost its spot to Lido on 3 January. However, the protocol remained undeterred and continued to build and invest funds to grow the DAO.
Assessing MakerDAO’s [MKR] health following its displacement by Lido
Leading decentralized finance protocol (DeFi) MakerDao [MKR] provided users with an overview of its current state in 2023. The DeFi protocol took to Twitter on 2 January to highlighted the amount of DAI tokens it had in circulation and its total value locked (TVL).
Lido Overtakes MakerDAO and Now Has the Highest TVL in DeFi
Liquid staking protocol Lido Finance appears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols.
5 Principles for Best Tokenomic Designs
What do the best tokenomics models and designs look like? Let’s look at five principles to consider that best tokenomic models use.
BlockTower Credit and MakerDAO to Fund $220 Million of Real-World Assets Through Centrifuge
Centrifuge announced the official launch of a $220 million fund with partners BlockTower Credit and MakerDAO. The executive vote passed on Sunday, December 11, and Maker will deploy four vaults to fund investments in real-world assets (RWA), originated by BlockTower and issued on-chain through <a href="https://tinlake.centrifuge.io/" target="_blank">Centrifuge</a>.
