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Sky Protocol Reports $22M December Revenue Amid DeFi Recovery and Growth Plans for 2025
Sky Protocol has made a remarkable comeback, reporting a staggering $22 million in revenue for the month of December. This impressive performance reflects the overall recovery of the decentralized finance (DeFi) sector and Sky Protocol’s strategic initiatives to enhance its platform and services.
Several factors contributed to Sky Protocol’s remarkable December revenue. The protocol’s daily fees peaked at $1.3 million on December 7, driven by increased usage of its native stablecoin, DAI/USDS. The supply of DAI rose to $6.2 billion, the highest level since 2022, supported by a diverse mix of collaterals, including tokenized T-bills. This diversification has positioned Sky Protocol as a leader in the adoption of real-world assets (RWAs) within the crypto sector.
Sky Protocol has undergone significant changes over the past year, including a rebranding from MakerDAO and an overhaul of its collateral structure. These strategic shifts have enabled the protocol to adapt to evolving market conditions and maintain its competitive edge despite facing competition from other DeFi lending platforms like Aave. The treasury holding of $2.1 billion as additional security for the dollar peg of DAI/USDS has also contributed to Sky Protocol’s resilience.
Looking ahead to 2025, Sky Protocol has ambitious plans to expand its presence in the DeFi space. The protocol aims to push for greater adoption of USDS, its native stablecoin, and expand its services to the Solana blockchain. In a mere week after launching USDS on Solana, the supply of USDS on the chain surpassed 100 million tokens. Sky Protocol plans to offer full lending services on Solana, potentially competing with established lenders like Kamino Finance.
Sky Protocol’s record-breaking December revenue and strategic growth plans for 2025 highlight its resilience and adaptability in the rapidly evolving DeFi landscape. As the protocol continues to innovate and expand, it is well-positioned to capitalize on emerging opportunities and drive further growth in the sector.
Source: crypto-economy.com
