Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Decentralized finance (DeFi) lending platform Maker Protocol has experienced a surge in revenues, reaching a two-year high of $165 million. This milestone is attributed to the growing interest rates in the DeFi ecosystem and the demand for crypto-based lending services. MakerDAO’s stablecoin lending service closely monitors interest rates on its DAI stablecoin, with rates surging to over 20% in July. This created a healthy demand for the platform, leading to substantial revenue growth. Despite the crypto market’s volatility, Maker Protocol’s success highlights the potential of DeFi to revolutionize traditional finance.
