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Open Finance Volumes in the Spotlight

by Ryan Todd

September 10, 2019, 9:41PM EDT  ·  2 min read

Quick Take

  • A look at stablecoin volumes on Ethereum, interest rates, borrow/supply volumes, DAI locked in DeFi, and more

by Ryan Todd

September 10, 2019, 9:41PM EDT  ·  2 min read

With the Ethereum community fully embracing Open Finance, volumes — and in turn product fit — have largely been captured early on by borrowing and supplying stablecoins within non-custodial lending protocols (DAI/USDC on Compound and dYdX). Looking specifically at DAI, the most trustless stablecoin issued on Ethereum, the asset has seen more than 100% growth in value locked within non-custodial platforms in August, led by 100% growth in DAI value locked within Compound (now more than $10.5m DAI in Compound), and close to 60% growth within dYdX (~$2.2m) in August.