December has been a breakthrough month for MakerDAO, with data from the decentralized finance (DeFi) analytics platform DeFiLlama showing it set new records in fees and revenues.<\/p>\n
According to the data<\/a>, MakerDAO reached a peak of $40.86 million in fees, a key metric of user activity, and $26.77 million in revenue, reflecting retained earnings, between December 1 and December 31.<\/p>\n 2024 has also been the crypto lending protocol\u2019s best year since its inception, making about $304 million in fees and over $174 million in revenue. At that time, the highest amount recorded for fees was in April, when the protocol received $32.62 million, while its best month in terms of turnover was November when it made $18.91 million.<\/p>\n However, December\u2019s numbers beat both those figures by $8.24 million and $7.86 million, respectively, setting a new precedent for the platform.<\/p>\n Interestingly, MakerDAO also saw its highest single-day performance on December 9, bringing in $1.67 million in levies and $1.18 million in income. These earnings have been driven primarily by interest payments on loans<\/a> made on the protocol\u2019s DAI stablecoin, reflecting the increasing demand for its lending services.<\/p>\n In August, the platform announced it would rebrand<\/a> to Sky after two years of development aimed at adding new functionalities and improving user interactions. It also introduced two new cryptocurrencies: USDS, a stablecoin that users could convert from their existing DAI holdings, and a new governance token named SKY.<\/p>\n USDS has also been launched on Solana as a DeFi-native stablecoin. The network has the second-largest decentralized finance ecosystem after Ethereum, with about $8.5 billion locked into its DeFi projects.<\/p>\n Elsewhere, Maker\u2019s native asset MKR experienced a less-than-impressive December. According to data from CoinGecko, the token lost 16.8% of its value over the last 30 days, with its worst performance coming in the previous two weeks, where it dipped by more than 21%.<\/p>\n In the last 24 hours, its price fluctuated between $1,488 and $1,547, finally settling at $1,522. The current price is 1.1% below its previous level from yesterday and remains more than 75% below its all-time high, recorded in May 2021. However, it still shows healthy market activity, with its latest one-day trading volume of $113.1 million helping it maintain a significant value with a market cap of $1.37 billion.<\/p>\n The post Sky (MakerDAO) Hits New Highs in Fees and Revenue<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" December has been a breakthrough month for MakerDAO, with data from the decentralized finance (DeFi) analytics platform DeFiLlama showing it set new records in fees and revenues. According to the data, MakerDAO reached a peak of $40.86 million in fees, a key metric of user activity, and $26.77 million in revenue, reflecting retained earnings, between […]<\/p>\n","protected":false},"author":0,"featured_media":32194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32193"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32193"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/32194"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A Historic Month for MakerDAO<\/h2>\n
MKR\u2019s Market Performance<\/h2>\n