DeFi — the non-custodial emerging world

MakerDAO was the dominant player in the DeFi market for a long time. It was a lending protocol with two tokens, a stablecoin coin pegged to the USD (DAI) and their protocol token (MKR).

These were the days that the entire amount of Ethereum locked in Defi protocols was c. $500,000 (c. March 13, 2020). And then suddenly, the explosion of Defi tokens was upon us. The amount locked in Defi crossed…