Hold onto your hats, folks, because December was a blockbuster month for MakerDAO! This decentralized finance (DeFi) giant just rolled into the history books with a jaw-dropping $1.67 million in fees raked in a single day, boosting its year-end earnings to a staggering $40.86 million! Talk about ending the year with a bang!
The data wizards over at DeFiLlama have been crunching numbers, and MakerDAO has smashed past records like they were made of paper mâché. December alone saw it scoop up $40.86 million in fees and $26.77 million in revenue, showing just how much users are flocking to this platform.
And if you thought that was impressive, wait till you hear about 2024! This has been MakerDAO’s crowning year since its launch, with a whopping $304 million in fees and over $174 million in revenue. April and November used to hold the crown for top earnings, but December outdid them both with extra millions to spare.
December 9 was the shining star of the month, with MakerDAO raking in $1.67 million in fees and $1.18 million in income in just one day! That’s some serious cash flow, fueled by the growing demand for loans in its DAI stablecoin. People just can’t get enough of those lending services!
But wait, there's more! MakerDAO has been on a mission to innovate, announcing a rebrand to “Sky” after two years of tinkering under the hood. The platform even rolled out two new crypto kids on the block: USDS, a stablecoin that you can swap from your DAI stash, and SKY, a fresh governance token.
USDS isn’t just hanging out on Ethereum; it’s also made its debut on Solana, the second powerhouse in the DeFi world with a hefty $8.5 billion locked in its projects. Talk about casting a wide net!
Now, not everything was sunshine and rainbows. Maker’s native token, MKR, had a bit of a rough patch in December. According to the number crunchers at CoinGecko, it took a 16.8% tumble over the month, with the last two weeks being the roughest, dropping over 21%.
Despite the rollercoaster ride, MKR kept the adrenaline going with a trading range between $1,488 and $1,547, closing out at $1,522. Sure, it’s a smidge below its previous day’s price and way off its May 2021 all-time high, but hey, with a $113.1 million trading volume in a single day and a market cap of $1.37 billion, it’s still holding its own in the crypto arena!
