MakerDAO revenue tumbles 86% on Ether and Wrapped BTC woes
Messari research shows MakerDAO has experienced its first quarter of net income loss since 2020 following a huge fall in loan demand and few liquidations. MakerDAO, the governing body of the Maker Protocol has seen its revenue plummet in the third quarter of 2022, caused by a fall in loan demand and few liquidations, while expenses have remained high. According to an Oct. 13 tweet by Johnny_TVL, a Messari analyst and co-author of “The State of Maker Q3 2022,” the decentralized autonomous organization saw its revenue plunge to just over $4 million in Q3, down 86% from the previous quarter.....
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For the first time since 2020, MakeDAO has crashed in its quarterly net income. The DAO is the autonomous community that governs the Maker Protocol. The project is based on the Ethereum blockchain and supports the lending and borrowing of crypto assets without a third party. MakerDAO has just witnessed a drastic drop in its 2022 third quarterly revenue. The decline in its income is linked to a plunge in loan demand and some liquidations. However, despite the pathetic situation, the community has high expenses within the quarter under review. Related Reading: Bitcoin Struggles To Break Past....
wETH is the ERC-20 compatible and tradable version of ETH and can be used to interact with other ERC-20 assets. Traders who use the Ethereum network are familiar with the ERC-20 technical standard and have most likely traded and invested in tokens that utilize it. After all, its practicality, transparency and flexibility have made it the industry norm for Ethereum-based projects.As such, many decentralized applications (DApps), crypto wallets and exchanges natively support ERC-20 tokens. However, there’s one problem: Ether (ETH) and ERC-20 do not exactly follow the same rules, as Ether was....
As the bear market trend is getting more intense, many protocols and other crypto-related firms are making moves for survival. On its part, MakerDAO plans on a minimal risk investment strategy to raise revenue. The DAO is taking steps into traditional investments using the native DAI stablecoin. Currently, MakerDAO is undergoing a proposal voting for […]
Rune Christensen believes MakerDAO’s collateral should be mobilized to capital into sustainable investments. MakerDAO founder Rune Christensen has published an essay outlining measures that could be taken to make the protocol a vehicle for addressing climate change.In a lengthy Oct. 5 post published to the MakerDAO governance forum, Christensen asserts that MakerDAO should strive to ensure that all of its collateral comprises “sustainable and climate-aligned assets that consider the long-term impacts of financial activity on the environment.”Christensen asserts that the protocol’s....
The DAO intends to generate yield with its native DAI stablecoin via traditional investments in US treasuries and possibly even corporate bonds. MakerDAO is currently voting on a proposal aimed at helping it weather the bear market and utilize untapped reserves by investing 500 million Dai stablecoins into a combination of US treasuries and bonds.Following a straw poll in a governance 'Signal Request,' the decentralized autonomous organization (DAO) members now must decide whether the dormant DAI should go entirely into short-term treasuries or split 80% into treasuries and 20% into....