MakerDAO’s DAI Stablecoin Surpasses $5B on Higher Yield, Lifting DeFi Lender Spark Protocol

Crypto Lending Platform MakerDAO Approves ‘Constitution,’ Moves Forward with Major Overhaul called ‘Endgame’ Plan

The extra payout has drastically bitten into Maker’s profits, Kunal Goel, analyst at Messari noted in a report. “Higher rates on higher deposits ballooned the protocol’s interest expense [and] has dried up profit expectations,” he wrote. The too-high rate also opened up opportunities for arbitrage, Goel added.

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