---
title: "MakerDAO dominates Ethereum lending with 52% market share"
url: https://diffcoin.com/makerdao-dominates-ethereum-lending-with-52-market-share/
description: "MakerDAO, Ethereum's first defi lending protocol, has captured a 52% share in the ETH lending market."
published: 2024-03-06
updated: 2024-03-06
author: "Mila"
site: "Diffcoin"
---

# MakerDAO dominates Ethereum lending with 52% market share

MakerDAO, Ethereum’s first defi lending protocol, has captured a 52% share in the ETH lending market.

The milestone was highlighted in Steakhouse Financial’s MakerDAO Protocol Economics Report for January 2024, which revealed a 22% rise in ETH lending via crypto-vaults on Spark.

Much of MakerDAO’s market dominance throughout the past year can be attributed to Spark, which has provided high liquidity and competitive borrowing rates for DAI – the largest decentralized stablecoin. Spark is now the third-largest defi lending protocol regarding total value locked (TVL).

> SparkLend keeps the momentum going, here’s the performance for the past week:
> 
> Mainnet 🔷
> 
> • Supplied assets are almost $1 billion up from last week, currently at ~$5.65 billion.
> 
> • Borrowings stand at ~$1.69 billion.
> 
> • Available liquidity sits at nearly $4 billion, currently… [pic.twitter.com/kOc5KgXBgI](https://t.co/kOc5KgXBgI)
> 
> — Spark (@sparkdotfi) [March 4, 2024](https://twitter.com/sparkdotfi/status/1764650154848632901?ref_src=twsrc%5Etfw)

The report details MakerDAO’s financial performance, noting a gross monthly revenue of 20.8 million DAI in January 2024. Crypto vaults were a major revenue source, contributing 10.3 million DAI.

Revenue from Real-World Assets (RWA) also played a critical role, adding 10.5 million DAI to the total despite a 14% decrease in RWA exposure compared to December 2023.

![MakerDAO financial performance](https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-05-184226-2-1024x646.png)

The shift towards crypto-backed loans from treasury bills has been vital to leveraging the market rally.

MakerDAO continues to evolve with its governance structure through the Endgame Plan, aiming to further decentralize decision-making by introducing SubDAOs. Each SubDAO will have its governance token, process, and workforce, marking a significant step towards a more decentralized and efficient ecosystem.

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