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Decentralized Finance

Decentralized lending protocols processed more than $250 million in originations in 2018

February 5, 2019, 9:15AM EDT

Bloqboard, a decentralized lending aggregation platform, released their 2018 report which details core metrics across the 4 major decentralized lending protocols. The full report can be viewed here, with some of the highlights including: 

  • The four major lending protocols (Compound, Dharma, dYdX, and Maker) cumulatively processed (sum of borrows and loans) over $251 million in originations, with Maker driving 97% of active loans outstanding (~$71.8 million outstanding).
  • Avg APRs were widely dispersed across the protocols given borrowed asset, with the lowest APR set for DAI through MakerDAO (ranged from .5% - 2.5% in 2018) and the second lowest APR for WETH at ~6% through Compound.
  • Collateral ratios varied greatly as well, with Compound north of 700%, Maker at 380%, dYdX ~160%, and Dharma holding the lowest at ~120%.
  • The ratio of borrows liquidated (total volume of borrows liquidated / total borrows) came in at .66% for Compound, ~7% for Dharma, and an eye watering 25% for Maker (with a 13% liquidation fee to boot).