Ethereum

2024

Worldcoin

SubDAO

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MakerDAO, Ethereum’s first defi lending protocol, has captured a 52% share in the ETH lending market.&nbsp; 
The milestone was highlighted in Steakhouse Financial’s MakerDAO Protocol Economics <a href="https://forum.makerdao.com/t/protocol-economics-report-2024-01/23751" target="_blank" rel="noopener">Report</a> for January 2024, which revealed a 22% rise in ETH lending via crypto-vaults on <a href="https://spark.fi/" target="_blank" rel="noopener">Spark</a>. 
Much of MakerDAO’s market dominance throughout the past year can be attributed to Spark, which has provided high liquidity and competitive borrowing rates for <a href="https://crypto.news/price/dai/">DAI</a> – the largest decentralized stablecoin. Spark is now the third-largest defi lending protocol regarding <a href="https://defillama.com/protocols/Lending" target="_blank" rel="noopener">total value locked</a> (TVL). 
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 SparkLend keeps the momentum going, here’s the performance for the past week: Mainnet 🔷 • Supplied assets are almost $1 billion up from last week, currently at ~$5.65 billion. • Borrowings stand at ~$1.69 billion. • Available liquidity sits at nearly $4 billion, currently… <a href="https://t.co/kOc5KgXBgI" target="_blank">pic.twitter.com/kOc5KgXBgI</a>— Spark (@sparkdotfi) <a href="https://twitter.com/sparkdotfi/status/1764650154848632901?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 4, 2024</a>
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The report details MakerDAO’s financial performance, noting a gross monthly revenue of 20.8 million <a href="https://crypto.news/deestreams-presale-attracts-investors-from-the-dai-and-shiba-inu-communities/">DAI</a> in January 2024. Crypto vaults were a major revenue source, contributing 10.3 million DAI. 
Revenue from Real-World Assets (RWA) also played a critical role, adding 10.5 million DAI to the total despite a 14% decrease in RWA exposure compared to December 2023. 
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The shift towards crypto-backed loans from <a href="https://www.steakhouse.financial/projects/tokenized-tbills-2023" target="_blank" rel="noopener">treasury bills</a> has been vital to leveraging the market rally. 
MakerDAO continues to evolve with its governance structure through the Endgame Plan, aiming to further decentralize decision-making by introducing <a href="https://endgame.makerdao.com/tokenomics/subdao-tokenomics" target="_blank" rel="noopener">SubDAOs</a>. Each SubDAO will have its governance token, process, and workforce, marking a significant step towards a more decentralized and efficient ecosystem. 
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MakerDAO dominates Ethereum lending with 52% market share

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