US Treasuries and Real World Assets Boosting DeFi Interest, Says IntoTheBlock
Market intelligence firm IntoTheBlock highlights the impact of US treasuries, stablecoin yields, and real-world assets on the decentralized finance (DeFi) space. Here are the key points:
– MakerDAO’s 8% yield on stablecoin Dai has attracted $1 billion in deposits in under a week, reigniting interest in DeFi.
– MakerDAO funds this yield by supplying part of its collateral into US treasuries, signaling a shift in the protocol and potentially influencing other lending protocols and decentralized exchanges (DEXs).
– Real-world assets like treasuries have brought renewed attention to DeFi, with the amount of Dai earning the Dai Savings Rate increasing by nearly $1 billion in a week.
– The trend of real-world assets in DeFi is solidifying, as shown by Ondo Finance’s tokenized treasuries attracting $164 million in deposits.
– The DAI savings rate is likely to play a bigger role in DeFi and attract capital and new users, even if it drops to match treasuries at 5%.
In conclusion, the increase in interest and deposits in DeFi due to the appeal of stablecoin yields and exposure to real-world assets is significant. This trend has the potential to reshape the DeFi landscape and attract more capital and users.
Hot Take: DeFi’s Future Lies in Real-World Assets and Sustainable Yields
The recent surge of interest driven by stablecoin yields and real-world assets indicates a promising future for DeFi. The ability to earn competitive rates and access yields easily opens up opportunities for lending protocols and DEXs. As the DeFi space continues to evolve, the DAI savings rate is set to play a crucial role in attracting capital and expanding the user base.
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