- Maker (MKR) is a smart contract platform built on the Ethereum blockchain that aims to solve volatility issues for the crypto market.
- A new token was launched by MakerDAO to increase its collateral.
- Real-world assets and the approval of plans to boost yields led to an increase in revenue.
On December 3, MakerDAO decided to boost the returns received by DAI holders in a new proposal. Additionally, MakerDAO expanded its collateral by adding fresh tokens. As a result, increased protocol activity may raise awareness of the DAO and have an impact on the MKR token.
New features for MakerDAO
Another tweet from 4 December claimed that GnosisDAO’s token, GNO, would be added to MakerDAO’s list of collaterals. In addition to assisting MakerDAO in diversifying its collateral, this would also help GnosisDAO in its goal to increase the popularity of DAI.
Despite expanding their collateral into other fields, the majority of MakerDAO’s revenue had come from actual world assets (RWA). The image below shows that more over 50% of MakerDAO’s revenue was derived from real-world assets.
Ethereum [ETH], staked Ethereum [stETH], and stablecoin yields all contribute to this income. As a result, MakerDAO’s revenue streams were diverse, suggesting that the protocol was less vulnerable to danger at the time of authoring.
In addition to that development, MakerDAO also decided to raise the DSR (Dai Savings Rate) for its customers. This was done in an effort to mimic the yields found in conventional finance. Long-term growth of MakerDAO may be enhanced by the DAO’s proactive approach to reducing risk exposure for its users and efforts to increase yields.