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Decentralized Finance (DeFi) Market Share

Report ID: GMI10337
Published Date: Jul 2024
Report Format: PDF

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Decentralized Finance Market Share

MakerDAO and Uniswap held a significant share of over 2% in the Decentralized finance (DeFi) industry. MakerDAO currently occupies an appreciable proportion of the decentralized finance frontend because it is one of the first platforms for decentralized stablecoins and lending. Making DAI as being an anchored value that is pegged to the US dollar, MakerDAO offers some form of stability in the ever-shifting Cryptocurrency market.

It helps people to lock-in their funds into various cryptocurrencies thus minting DAI and it offers decentralized credit markets for lending and borrowing without the use of third parties. Such features as MakerDAO’s governance by MKR token holders intending to decide on the further development of the protocol only contributes to the project’s leading role in the DeFi space. Due to the concentration on transparent, stable, and user-empowering initiatives, MakerDAO is now an indispensable part of the decentralized finance market.

Uniswap is one of the largest DEX that profoundly shifts the course of the DeFi industry on its backdrop as the trade of cryptocurrencies is carried out as permission-less. Also, it is important to note that being an AMM-based exchange, you can trade directly from your wallet, not reaching out to other centralized exchanges. Liquidity is facilitated through pools supplied by the users whereby the pools are rewarded through fees.

Currently, Uniswap is bringing a new concept to trading, which opens up a large variety of tokens and has increased the amount of turnover. Therefore, due to being quite easy to use, as well as being fully decentralized, Uniswap has gained massive popularity and, consequently, high trading volumes, thus becoming one of the key platforms of the decentralized finance ecosystem.

Decentralized Finance Market Companies

Major players operating in the decentralized finance (DeFi) industry are:

MakerDAO
Uniswap
Compound Labs, Inc.
Aave Labs
Synthetix
Curve Finance
Chainlink

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of decentralized finance reached USD 14.35 billion in 2023 and is set to witness over 46.8% CAGR between 2024 and 2032, led by the rise in decentralized independent organizations.

The payments segment of the decentralized finance industry is expected to register 50% CAGR through 2032, as it enables end to end transfer of cryptos such as stable coins and other digital currencies.

North America market accounted for over 35% share in 2023, due to its high-quality regulatory framework.

MakerDAO, Uniswap, Compound Labs, Inc, Aave Labs, Synthetix, Curve Finance, and Chainlink among others.