Maker Protocol Records $165 Million in Revenue!

The post Maker Protocol Records $165 Million in Revenue! appeared first on Coinpedia Fintech News

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.