The volume of blocked assets in MakerDAO reached $1 billion

The total value of crypto assets blocked in MakerDAO’s oldest decentralized Finance project has exceeded $1 billion for the first time.

According to the analytical service DeFi Pulse, yesterday the total value of crypto assets blocked in MakerDAO exceeded $1 billion for the first time. At the moment the project is supported by ETH and the BAT to secure loans.

Co-author of the report “DAO: A Decentralized Governance Layer for the Internet of Value” David Freuden said that overcoming the milestone of $1 billion of crypto assets blocked in the Protocol is an important event for MakerDAO. According to him, innovations in DeFi will increasingly call into question the concept of centralized financing.

Recall that in may MakerDAO completely switched
on the MCD system with several types of software, and in March there was information that the Protocol can add
USDC support for securing loans.

The next level reached by MakerDAO is a confirmation of the active development of the DeFi industry. As recently as last Wednesday, the volume of crypto assets blocked in DeFi applications reached $3 billion, and on Saturday it already exceeded $4 billion. As recently reported
a subsidiary of ConsenSys Codefi, the activity of users of DeFi applications continues to grow, with the same users interacting with the products most often.