A DAppTotal Report On DeFi Industry In 2019 – PeckShield

Figure 22. DEX Monthly Active Users (MAUs) In 20196. Overview Of Leading DeFi Apps

6. Overview Of Leading DeFi Apps

In this Section, we will give an overview and data snapshot of four major DeFi applications, Maker, Compound, dYdX, and Edgeware. Dharma is not included since it is not yet open-source and there is no public data available.

6.1 Maker

The Maker platform was started in 12/18/2017, and they are also the creator of DAI, a decentralized stablecoin based on Ethereum and pegged to US Dollar. For the time being, the Maker platform and DAI stablecoin have very limited real world usage beyond margin lending for crypto trading.

The V1 of Maker smart contract supports only ETH as collateral, but its V2 MCD version supports multiple assets as collateral..

Here are a data snapshot of Maker V1 and V2 Versions, and its borrows APR graph of 2019.

6.2 Compound V1 & V2

Launched in September 2018, Compound is a money market platform, where users can lend their crypto assets to earn interest, or borrow assets from the platform. Interest rates are adjusted algorithmically based on the supply and demand for borrows and loans.

Compound protocol Version 2 was released in May of 2019. Here we provide snapshots for both the V1 and V2 protocols.

6.3 dYdX V1 and V2

dYdX is a lending, margin trading, and derivative platform, started in September 2018, supports up to 4x leverage trade of ETH, DAI, and USDC tokens.

dYdX protocol Version 2 was released in June of 2019. Here we provide snapshots for both V1 and V2 protocols. 6.4 A List of DeFi Applications From DAppTotal.com

Here is a comprehensive list of DeFi applications tracked by DAppTotal.com, as of 12/31/2019. 7. Conclusion

We are seeing amazing progress in the DeFi space recently, and in this report we analyzed the status of DeFi industry in the year of 2019, and provided in-detail data and analysis of DeFi applications such as Stablecoins, Lending, and DEXs. DeFi industry started to attract major attention in 2018, and becomes a much larger force in 2019, with a total locked value of $931M USD as of 12/31/2019, an three-fold increase from $302M USD on 01/01/2019. As of 12/31, the top 5 DeFi applications ranked by total locked value are Maker, EOS REX, Edgeware, Compound, and Synthetix.

References

[1] EOS REX official site, https://eosauthority.com/rex

[2] MakerDAO website, https://makerdao.com/en/

[3] DAppTotal website, a platform of DApp data collection and analysis, https://dapptotal.com/

[4] Edgeware website, https://edgewa.re/

[5] Compound website, https://compound.finance/

[6] Dharma website, https://www.dharma.io/

[7] dYdX website, https://dydx.exchange/

[8] Tether website, https://tether.to/

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