Skip to main content

Featured Story

Nifty Island Launches Speedrunning Challenge for NFTs

Nifty Island Launches Exciting Speedrunning Challenge In the ever-evolving landscape of blockchain gaming, Nifty Island emerges as a beacon of creativity and community engagement. This innovative game, built on the Ethereum blockchain and launched in January, invites players to immerse themselves in a vibrant 3D social environment. The recent announcement of a two-part speedrunning challenge, centered around the new play mode "Break the Targets," showcases the platform's commitment to user-generated content and rewards. What to Expect from the Challenge The speedrunning challenge presents a unique opportunity for both level creators and players to showcase their skills and creativity. Here are the key details: Creation Phase : From now until 4 PM EST on March 31 , level creators can design their own courses tailored to the "Break the Targets" mode. This encourages builders to tap into their imagination and create courses that challenge players to maximi...

Maker Protocol's Annualized Revenue Surges to All-Time High: Tokenized RWAs and Attractive Yields Drive Growth

Stablecoin issuer Maker Protocol has experienced a significant surge in annualized revenue, reaching a new all-time high of $203 million. This impressive growth can be attributed to several factors, including increased deposits of tokenized real-world assets (RWAs) and higher yields for DAI holders.

Tokenized RWAs are crypto tokens that are backed by physical or real-world financial assets such as stocks, government bonds, real estate, or art. MakerDAO, the organization behind the Maker Protocol, has seen its RWA deposits soar past $3 billion, accounting for 42.7% of the protocol's total deposits. This influx of RWAs has been instrumental in driving revenue growth.

Two specific vaults, Monetalis Clydesdale and BlockTower Andromeda, which purchase short-dated United States Treasury notes, make up more than three quarters of the RWA deposits within the Maker Protocol. The increase in U.S. treasury yields this year, resulting from higher benchmark interest rates set by the Federal Reserve, has played a significant role in boosting the protocol's revenue.

Furthermore, DAI holders have also benefited from increased yields through the DAI Savings Rate (DSR) mechanism via the Spark Protocol. The DSR generates yields for DAI holders by utilizing the protocol fees paid by users who deposit assets into Maker to mint new DAI. Currently, the DAI deposited into the Spark Protocol, represented as sDAI, accounts for 31.3% of DAI's total supply, amounting to $1.7 billion.

Overall, Maker Protocol's impressive surge in annualized revenue showcases the success of its focus on tokenized RWAs and attractive yields for DAI holders. As the protocol continues to attract more collateral and benefit from increased treasury yields, it is well-positioned for continued growth and success in the stablecoin market.

Comments

Trending Stories