Maker Achieves Record-Breaking Annualized Revenue, Exceeding 200 Million Dollars

Crypto News– Stablecoin provider Maker Protocol reached a remarkable annualized revenue of $203 million, a new all-time high, as reported by Makerburn.com data. This impressive milestone eclipsed the previous peak of $172.3 million recorded in May 2021.

Maker Achieves Record-Breaking Annualized Revenue, Exceeding 200 Million Dollars

Maker, a platform for issuing stablecoins on the Ethereum network, operates under the governance of the MakerDAO community, comprised of MKR token holders. According to data from Makerburn.com, the total supply of DAI, the stablecoin created by the protocol, reached a new annual high of $5.6 billion.

Maker generates revenue through user fees for borrowing DAI and fees earned when liquidating a borrowing position. The surge in revenue coincided with an influx of tokenized real-world assets (RWAs) being deposited to mint DAI and higher yields for DAI holders, further attracting additional collateral to the platform.

As the Federal Reserve takes steps to combat inflation in the United States by raising interest rates, holders of Treasury bills are currently reaping a generous 5% return on their investments.

Within the Maker Protocol, tokenized real-world assets (RWA) deposits have surged in volume, with Monetalis Clydesdale and BlockTower Andromeda vaults leading the way. These vaults, focused on short-dated United States Treasury notes, collectively constitute over three-quarters of the RWA deposits within the Maker Protocol, as revealed by a Dune dashboard curated by data analyst Steakhouse.

The increase in U.S. treasury yields throughout this year, driven by the Federal Reserve’s adjustments to benchmark interest rates, has played a pivotal role in boosting the protocol’s revenue.