Stablecoin issuer Maker Protocol’s annualized revenue surged to a new all-time high of $203 million yesterday, according to Makerburn.com data.

The previous peak was $172.3 million in May 2021.

Maker is a stablecoin issuing platform on Ethereum, governed by the MakerDAO community formed of MKR token holders. The supply of the protocol’s stablecoin, DAI, reached a new yearly high of $5.6 billion, per Makerburn.com data.

Maker makes money through fees paid by users for borrowing DAI, and fees earned in case of a liquidation of a borrowing position.

The surge in revenue came amid increased deposits of tokenized real-world assets (RWAs) for minting DAI and higher yields for DAI holders (which, in turn, attracts even more collateral)

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Author: Nivesh Rustgi

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