Market intelligence firm IntoTheBlock says that US treasuries, stablecoins yields and real-world assets are giving decentralized finance (DeFi) a shot in the arm.
In a new article, IntoTheBlock head of research Lucas Outumuro says that MakerDAO’s (MKR) new 8% yield on stablecoin Dai (DAI), which has gathered $1 billion in deposits in less than a week, has rekindled interest in DeFi.
“The first lending protocol, MakerDAO, has caught the attention of the crypto space with its recent move. Its stablecoin, DAI, is able to earn the DAI savings rate (DSR), which as of this past Sunday was increased to 8%.
This yield is funded by Maker’s revenues, most [of] which stem from supplying part of its collateral into US treasuries. This shift is already causing an impact on Maker and is likely to extend beyond the protocol.”
IntoTheBlock adds that exposure to real-world assets is giving the DeFi space a fresh narrative amid a choppy trading environment.
“Real-world assets such as treasur
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