2020 DeFi Industry Research Report Part 2

Key Takeaways 1. The lending sector's end-of-quarter locked value grew 294% from the start of the quarter, with liquidation amounts 10 times that of Q2; 2. Starting in late September, MakerDAO showed strong performance, reclaiming the top spot in locked value; lending monopoly degree is lower than DEX, and the overall industry can now generate relatively stable cash flows; 3. In Q3, the proportion of decentralized stablecoin issuance on Ethereum rose 4.18%, with DAI issuance volume increasing 527%.