MakerDAO, the issuer of the DAI stablecoin, saw a notable drop in revenue in 2022 as the DeFi protocol took a major turn away from cryptocurrency lending. crypto-native to real-world asset markets According to a financial report released by Steakhouse Financial.
MakerDAO’s total revenue fell 42% to 65 million DAI ($65 million) in 2022 from 112 million DAI in 2021, according toreportThis caused the protocol’s net operating profit to drop 80% to 19 million DAI last year from 90 million DAI in 2021, and operating expenses to 46 million DAI in 2022. More than twice the figure reported last year.
MakerDAO’s revenue decline is a result of the 2022 crypto market slowdown, which was triggered by the collapse of the Terra and FTX ecosystems, and is an event amid a significant slowdown in global financial markets. and affects both centralized and decentralized participants.
Maker’s total balance fell to 5 billion DAI at the end of 2022, down 43% from 9 billion at the end of the previous year, according to Steakhouse data.
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