Maker's MKR token saw a 2.8% surge in the last 24 hours, while its TVL fell by 15.8% over the last month. MakerDAO achieved a significant milestone as its annualized fee revenue hit $94.87 million, the highest since mid-February 2022. The surge in revenue was attributed to interest income earned from U.S. Treasury bonds purchased using the protocol's Peg Stability Module (PSM) USDC. Despite the positive news, concerns remain as Maker's TVL experienced the highest monthly drop among the top 10 DeFi platforms, according to DeFiLlama. MKR tokenholders use the fee revenue to fund the protocol's operational costs and buy and burn MKR tokens to dilute the supply.
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MakerDAO's Annualized Fee Revenue Hits $94.87 Million, Thanks to Interest Income from U.S. Treasury Bonds
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