Maker Protocol
MakerDAO revenue tumbles 86% on Ether and Wrapped BTC woes
MakerDAO, the governing body of the Maker Protocol, has seen its revenue plummet in the third quarter of 2022, caused by a fall in loan demand and few liquidations, while expenses have remained high. According to an Oct. 13 tweet by Johnny_TVL, a Messari analyst and co-author of “The State of Maker Q3 2022,” the decentralized autonomous organization (DAO) saw its revenue plunge to just over $4 million in Q3, down 86% from the previous quarter. One of the results of this has been MakerDAO’s first quarter of net income loss since 2020. MakerDAO value statement as of September 30, 2022. Source: Messari The Messari senior research analyst has pointed to few liquidations and weak loan demand as the reasons for the drop in revenue. Its two biggest earners, Ether (ETH) and Wrapped Bitcoin (...
