Maker Annualized Revenue Soars Past $200 mn
Maker Protocol, a stablecoin issuer, saw its annualised revenue reach a new record high of $203 million.
Maker is an Ethereum-based platform for stablecoin issuance that is run by the MakerDAO community, which is made up of MKR token owners. According to data from Makerburn.com, the quantity of DAI, the protocol’s stablecoin, increased to a new annual high of $5.6 billion.
Users pay fees to Maker when borrowing DAI, and Maker also receives fees when a borrowing position is liquidated.
MakerDAO’s revenue surged due to increased deposits of tokenized real-world assets (RWAs) for minting DAI and higher yields for holders. These tokenized RWAs, backed by physical assets, accounted for 42.7% of the protocol’s total deposits of $7.54 billion, according to DeFiLlama data.
(With inputs from Shikha Singh)
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