Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech business since 2017.
Decentralized finance (DeFi) lending platform Maker Protocol has skilled a surge in revenues, reaching a two-year excessive of $165 million. This milestone is attributed to the rising rates of interest within the DeFi ecosystem and the demand for crypto-based lending companies. MakerDAO’s stablecoin lending service intently screens rates of interest on its DAI stablecoin, with charges surging to over 20% in July. This created a wholesome demand for the platform, resulting in substantial income development. Regardless of the crypto market’s volatility, Maker Protocol’s success highlights the potential of DeFi to revolutionize conventional finance.
