MakerDAO Passes $1bn Milestone First

MakerDAO is DeFi’s oldest project and is now the first to pass the $1bn mark of committed cryptocurrency; Collateral, locked up in the form of ether (ETH) or basic attention token (BAT), is used on Maker’s protocol to undertake lending and generate DAI as debt against collateral; DeFi has seen a huge boon in recent months since all platforms passed $1bn in committed crypto in February, the full total of the sector is now more than $3.3bn; David Freuden, co-author of “DAO: A Decentralized Governance Layer for the Internet of Value,” told CoinDesk that innovation in DeFi will increasingly challenge the premise of centralized finance. CoinDesk.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.