Decentralized Finance: November 2018 Lending Activity

An overview of lending activity on decentralized lending protocols Dharma, Compound, MakerDAO and dYdX

At Bloqboard, we’re building the future decentralized credit markets for digital assets. With the goal of increasing transparency, we’ve put together an overview of activity in the space. The data below represents on-chain lending activity over the past 30 days.

Executive summary

Protocols: Analysis

The total amount of principal borrowed in November, across all four protocols, was approximately USD 29.2m, compared to roughly USD 13.9m in October.

Compound Protocol

  • Total loaned principal: USD 2.88m
  • Number of loans: 76
  • Top borrowed assets by value (descending order): REP, ZRX and WETH
  • New supply across all assets: USD 14.08m
  • Top lending platforms: Compound and Bloqboard

Dharma Protocol

  • Total loaned principal: USD 8,728
  • Number of loans: 40
  • Top borrowed assets by value (descending order): WETH, MKR and REP
  • Top lending platform: Bloqboard

dYdX Protocol

  • Total loaned principal: USD 333,274
  • Number of loans: 54
  • Top assets (descending order): DAI and WETH
  • Top lending platform: Expo

MakerDAO Protocol

The data for Dharma Protocol and MarkerDAO Protocol was pulled from, an analytics platform for debt issued on the Ethereum blockchain.

Additionally, we continue to whitelist a select group of high-volume borrowers and lenders for private beta access to a new product using Dharma Lever as an underwriter. We expect to roll out this new product in early 2019. If you’re interested in gaining early access, we are accepting submissions now.

If you’re excited to learn more about digital asset credit markets, reach out to us at