MakerDAO Earnings Fall 86%: 1st Net Income Loss Since 2020
According to Johnny_TVL, Maker Protocol’s governing body, MakerDAO, had its revenues fall by up to 86% in Q3 of 2022. Johnny highlights that the reduction in revenue is due to weak loan demands, and some liquidations. MakerDAO’s earnings fell from $30 million in Q2 to a mere $4 million in Q3. While revenues plummeted, expenses have remained high. This is the first net income loss for the protocol since 2020. @MakerDAO third quarter was a painful one for the decentralized lender. Notables: – revs fell 86%, collateral ratio down to 1.1 – G-UNI dominating, is this increasing liquidity and on-chain volumes for DAI? – wBTC reliance on whales/institutions – RWAs – Endgame 🧵 1/n pic.twitter.com/OrJ7JvFSM3 — Johnny_TVL (@john_tv_locke) October 13, 2022 As per the data shared by the Twitter user, Maker DAO’s revenue from Ethereum-based assets fell by 74%. On the other hand, revenue from Bitcoin-based assets fell by 66%. Ether (E...