Value of MakerDAO’s locked assets tops $3 billion

Against the backdrop of rapid growth of Ethereum, the total value locked (TVL) on MakerDAO’s smart contracts reached $3.15 billion.

Aave and Compound round out the top three in DeFi Pulse’s ranking. Each has a TVL of $2.18 billion. The largest decentralized exchange, Uniswap, sits in fourth place.

Данные: DeFi Pulse.

MakerDAO is one of the DeFi pioneers. The project, founded in 2014—a date by industry standards a long time ago—enabled users to lock collateral in Ethereum to generate DAI — an algorithmic stablecoin. Over time, DAI has become one of the main components of the new financial system — the decentralized lending market.

In 2020, the market capitalization of DAI grew more than twentyfold amid the DeFi frenzy.

Evolution of DAI’s market capitalization since the beginning of 2020. Data: CoinGecko.

The total TVL of the DeFi sector projects has also grown roughly twentyfold since the beginning of 2020, according to DeBank.

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