Open Finance: Loan Origination Snapshot for January and February 2019

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

Linen App
Linen App
Mar 6, 2019 · 4 min read

The volume of digital assets borrowed via open lending protocols Compound, Dharma, dYdX and MakerDAO in February 2019 decreased 7.1% to USD 22.6 million compared to that of January 2019, which stood at USD 24.4 million. This is the second month the volume is down. January’s volume was down 35.7% compared to that of December 2018.

Source: Some or all data provided by Loanscan.io Lending Market Data API.

Source: Some or all data provided by Loanscan.io Lending Market Data API.

Source: Some or all data provided by Loanscan.io Lending Market Data API.

  • In February, Compound had the largest decline (-72.0%) in borrowed principal out of the four protocols.
  • Snapshot of activities on Compound:

Note: Collateral Liquidation Ratio = Collateral Liquidated/Total Borrows

Source: Some or all data provided by Loanscan.io Lending Market Data API.

  • In February, Dharma was the only protocol that saw an increase (1,049.2%) in borrowed principal.

Note: Collateral Liquidation Ratio = Collateral Liquidated/Total Borrows

Source: Ethereum blockchain.

  • In February, dYdX had the second highest decrease (-42.5%) in borrowed principal after Compound.

Note: Collateral Liquidation Ratio = Collateral Liquidated/Total Borrows

Source: Some or all data provided by Loanscan.io Lending Market Data API.

  • In February, MakerDAO posted a modest decrease (-1.45%) in borrowed principal in comparison to dYdX and Compound while Dharma saw a substantial increase.

Note: Collateral Liquidation Ratio = Collateral Liquidated/Total Borrows

Source: Some or all data provided by Loanscan.io Lending Market Data API.

What to Watch Moving Forward

  • Dharma Lever is getting traction

Note: Loans with value less than USD 1 have been excluded from the analysis.


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