The value staked in decentralized finance platform MakerDAO was at least 14 billion USD in 2022, but fluctuated between days. The MakerDAO protocol is different from other big crypto lenders in Decentralized Finance (DeFi) in that it issues its own stablecoin: Dai. If a MakerDAO user wants to borrow money, he/she would first deposit this money inside a Maker smart contract on the Ethereum blockchain. This contract would then be coupled with the Dai coin, essentially forming the digital money that is being loaned inside this digital loan. Whilst the market cap of DAI compared to the likes of Tether or TerraUSD is not as high, the combination of MarketDAO and DAI is said to have relatively low barriers of entry into crypto lending. As it works within the Ethereum blockchain, it can be accessed by anyone who has an Ethereum wallet, such as Metamask.
TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022
(in billion U.S. dollars)
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DefiLlama. (March 25, 2022). TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/
DefiLlama. "TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022 (in billion U.S. dollars)." Chart. March 25, 2022. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/
DefiLlama. (2022). TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/
DefiLlama. "Tvl (Total Value Locked) of Decentralized Finance (Defi) Lending Protocol Maker as of March 25, 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Mar 2022, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/
DefiLlama, TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022 (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/ (last visited November 10, 2024)
TVL (total value locked) of Decentralized Finance (DeFi) lending protocol Maker as of March 25, 2022 (in billion U.S. dollars) [Graph], DefiLlama, March 25, 2022. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1298895/daily-tvl-of-maker-defi/
