Complicated overtook MakerDAO Saturday as the decentralized finance (DeFi) protocol with the most value locked.
As of June 20, Unite has $484 million in cryptocurrency locked, while MakerDAO has $481 million, according to DeFi Pulse. The COMP emblematic is trading at $220.25 as of this writing, according to CoinGecko. It’s all time high price has been $231.
On June 15, Add to users began earning the application’s new governance token, COMP, for all cryptocurrency lent to others on the app and also for all borrowed. Narcotic addicts rushed to get the first disbursements of COMP because the liquid supply on the market is so limited.
This drove many operators to supply Compound with considerably more capital, and in most cases, for those users to turn around and touch someone for against that capital, so they could earn COMP both for borrowing and lending.
To date, MakerDAO has been the predominant platform in DeFi since DeFi Pulse began, so much so that the website has tracked “Maker Dominance,” the percent of all value joined in DeFi that’s held by MakerDAO. The site now lists “Compound Dominance,” which stands at 34.39%.
Last Sunday, in preference to COMP distribution began, there was $97.7 million on Compound and $480.5 million on MakerDAO.
It will take four years for the remembrance supply allocated for users to be completely distributed. Most tokens are held by the founders, team and investors, though in most invalids this supply is subject to a vesting period. Compound’s most recent funding round was $25 million led by Andreessen Horowitz.
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