The decline in revenues did not go unnoticed in MakerDAO, which published last year’s financial data.
While there have been serious collapses, bankruptcies and many others in the crypto money industry in the past year, all cryptocurrencies have been affected by this situation. Cryptocurrencies are all down almost 90 percent from their highs.
Decreases in 2022 MakerDAO Revenues
The bear market of cryptocurrencies in 2022 affected the industry players. According to the financial report released by Steak Financial, MakerDAO, which issues the DAI stablecoin and provides decentralized finance (DeFi) services, closed last year with a very serious loss of revenue.
In the published report, the company’s total revenue decreased by 42 percent from 112 million DAI in 2021, or $ 112 million, to 65 million DAI in 2022, generating $65 million less revenue.
This data caused the protocol’s net operating earnings to fall from 90 million DAI in 2021 to 19 million DAI in 2022, an 80 percent decrease. The company’s expenses also rose to 46 million DAI in 2022. Which is more than double the expense the company reported in the previous year.
For all these reasons, MakerDAO, one of the important players of DeFi, closed 2022 with a loss of income.
