MakerDAO Blocked Assets Reach $ 1 Billion

The total value of crypto assets locked in MakerDAO, the oldest decentralized finance project, surpassed $ 1 billion for the first time.

According to the analytical service DeFi Pulse , yesterday the total value of crypto assets blocked in MakerDAO exceeded $ 1 billion for the first time. The project currently supports ETH and BAT to secure loans.

David Freuden, co-author of the DAO: A Decentralized Governance Layer for the Internet of Value report, said that crossing the $ 1 billion milestone of cryptoassets blocked in the protocol is an important milestone for MakerDAO. Innovations in DeFi will increasingly challenge the concept of centralized financing, he said.

Recall that in May, MakerDAO completely switched to the MCD system with several types of collateral, and in March it was reported that the protocol could add support for USDC to secure loans.

The next level reached by MakerDAO is a confirmation of the active development of the DeFi industry. As recently as last Wednesday, the volume of blocked crypto assets in DeFi applications  reached  $ 3 billion, and on Saturday it has already exceeded $ 4 billion. As recently reported by its subsidiary ConsenSys Codefi, the activity of users of DeFi applications continues to grow, while most often the same users interact with products …

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