RATE Group | The CoinDesk 50: MakerDAO Is the Godzilla of DeFi
87983
post-template-default,single,single-post,postid-87983,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

The CoinDesk 50: MakerDAO Is the Godzilla of DeFi

11 May The CoinDesk 50: MakerDAO Is the Godzilla of DeFi

Posted at 07:43h in Cryptocurrency News by

MakerDAO is the Godzilla of DeFi, a decentralized beast born of Vitalik’s nuclear bomb: Ethereum.

At $350+ million in crypto locked into MakerDAO’s smart contracts, it dominates the chief use case of the second-biggest blockchain. Like the celluloid firebreather before it, other similar beasts followed. The most well known are companies like Compound, Synthetix and dy/dx, making them equivalent to moviedom’s Mothras, Rodans and Gameras. Gojira and his ilk are known as kaiju, and DeFi is crypto’s equivalent.  

In both the films and on the blockchains, regular denizens cannot look away, as each illustrates a grand potential but leaving the occasional inadvertent destruction in their wake. Both kinds of kaiju are weird, big and disruptive, and each can have only one King of Monsters.

This post is part of the CoinDesk 50, an annual selection of the most innovative and consequential projects in the blockchain industry. See the full list here.

On Ethereum, it all started with MakerDAO, a…

Source link

Tags:
, , , ,