How To Build Decentralized Finance (DeFi) Lending Protocol Like MakerDAO
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With a big boom in demand for Decentralized Finance (DeFi) applications, the total value locked has crossed $33.95 billion, indicating the sector’s rapid growth. The industry will expand more in the future with better interoperability, the collaboration between different protocols, and the use of layer 2 technology.
MakerDAO is one of the ambitious projects out there in the industry. Built on the robust Ethereum blockchain network and launched in December 2017, it mainly focuses on lending credit to borrowers. It has received more than $5.89 billion of funds into its platform. The Maker (MKR), an ERC20 token, is currently trading at $2285 and is the largest DeFi token in the market.