DeFi Lending Protocol dYdX Produces More Than $1B In DeFi Loans Over One Year
DeFi Lending Protocol dYdX Produces More Than $1B In DeFi Loans Over One Year
April 20, 2020
DeFi Lending Protocol dYdX Produces More Than $1B In DeFi Loans Over One Year
DeFi Lending Protocol dYdX Produces More Than $1B In DeFi Loans Over One Year
April 20, 2020

DeFi lending protocol dYdX has produced more than $1 billion in loans since launching one year ago.

Consecutive monthly all-time highs during February and March of more than $250 million and $400 million respectively resulted in this. Overall, nearly 317,000 transactions have been generated across the lending platform.

This is according to its tracking aggregator, LoanScan, which showed that the platform has delivered more than $1.1billion in loans over the past year. 

The lending platform currently comprises the seventh-largest DeFi protocol with $22.7 million in locked assets according to DeFi Pulse. DYdX currently presents nearly 3% of all value locked in decentralized finance.

DYdX tweeted recently that its native market has produced more than $530 million in volume over seven months of operating:

Defi’s products continue to gain massive interest and its products will indeed continue to grow in the near future. The platform is experiencing a significant increase in the amount of loans borrowed on its exchange.

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Source: Cointelegraph | Image: Pixabay


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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