Blockchain data company TokenInsight has published its annual cryptocurrency report for 2019, with a partial focus on decentralised finance (DeFi) applications.
The report delves into which lending platforms attracted the most locked value or collateral in 2019, as well as which DeFi projects experienced the most growth over the course of the year.
Maker earned its status as Ethereum’s most successful DeFi lending platform in 2019, according to TokenInsight. The app accounted for 76% of the total value locked in Defi lending apps, and it accounted for three-quarters of Ethereum’s total DeFi users.
TokenInsight additionally noted that Maker’s stablecoin supply reached its peak last year with $100 million of Dai in circulation.
EOS REX attracted $160 million in locked value in 2019 and achieved an all-time high of $763 million.
Two other DeFi lending platforms, Synthetix and Compound, accounted for a significant amount of total locked value as well—$160 million and $80 million respectively.
DeFi lending and stablecoins will continue [their] pace in 2020…. We believe the market of decentralised stablecoins will score a substantial increase with its value growing at least five times, said the report.