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About 2.5 million Ether (ETH), currently valued at about $ 444 million, has been blocked by smart contracts concluded over distributed application networks (ddAs), according to data provider Defi. Pulse.
MakerDAO, a Santa Cruz, Calif.-based financial services company that launched a decentralized autonomous organization (DAO) on the Ethereum blockchain, now has a value of approximately $ 385.9 million (up 6.7% in the last 24 hours). managed through its smart contracts stablecoin, based on DAI.
Over 430 Million Dollars of Secure Applications in Decentralized Finance (DeFI)
Compound, a protocol that allows users to borrow and lend EPFs while earning interest, currently has capital badets of $ 29.8 million, an increase of almost 5% over the past 24 years. hours. Meanwhile, Uniswap, a decentralized exchange protocol that allows users to exchange (or exchange digital badets) ETH and other cryptos through the MetaMask portfolio, has nearly $ 10 million blocked in its ecosystem.
Bitcoin's Lightning Network (LN), which is also considered part of the Decentralized Finance (DeFi), has a value of approximately $ 5.6 million. Other networks such as Dharma, Augur (REP), Kyber, WBTC, Veil and xDai also have value, although their networks appear to be still in the early stages of development.
In addition to growing in terms of market capitalization, the DeFi economy has introduced new lending and trading protocols based on cryptography. Although these projects are in their early stages of development, they can potentially change the way financial markets work in the near future.
According to the official website of MakerDAO, the DeFi ecosystem offers "economic opportunities for all" because it provides "financial services [which were previously] only [available to a] select a few … Maker is an open platform that allows equal access to high quality financial services, including fair credit for all. "
As noted in an official overview of MakerDAO and the Dai Stablecoin (on Github), Maker is a decentralized autonomous organization (DAO) that "manages the Dai Stablecoin system on the Ethereum blockchain."
The decentralized "ultimate currency"?
The overview further mentions that a decentralized centerpiece is an essential "component" of the EPF-based lending solution, as it helps to "unlock the next phase of the digital financial revolution". The message adds that the Maker team has designed a fixed room called Dai, which they view as the "ultimate decentralized currency".
Continuing by explaining the role of MKR token holders in the Maker ecosystem, the overview shows that they are "the highest authority in the Maker system." They also help to "govern the system and are advantaged when they manage it well," but also have to pay the bill if things are mismanaged – as a group, they need a strong social cooperation and a vigilant attitude towards governance. "
Manufacturer Guaranteed Credit Portal (CDP)
Maker's "Debt Guarantee Position" (CDP) platform is considered to be the most important aspect of the Dai Stablecoin system, as it uses smart contracts to hold "pledged badets" that serve guarantee the value of the Dai in circulation ". serves as a platform "that facilitates" decentralized margin trading "to" lower costs and increased security "compared to traditional margin trading options.
In addition, the CDP and Dai platform aims to provide a comprehensive solution for world-clbad DeFi systems "where everyone from rural India on Wall Street can benefit from decentralized funding," says Maker.
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