“The integration of MakerDAO on our lending platform will provide users with a new way to unlock the value of their collateral by borrowing against it.”

— Vitaly Bahachuk, Bloqboard CEO and co-founder.

“Decentralized lending protocols like Compound, Dharma and MakerDAO allow users to retain full custody over their digital assets. Platforms building on these protocols will play a pivotal role in attracting borrowers and lenders. With three of the four leading decentralized lending protocols integrated on its platform, Bloqboard is well-positioned to be the premier destination for origination of non-custodial digital asset loans. The entire Bloqboard team is committed to further developing the MakerDAO ecosystem and will continue to explore ways to provide innovative and value added products with the goal of capturing mindshare in this rapidly emerging space,” Mr. Bahachuk said.

Bloqboard never takes custody of any asset that is borrowed, loaned or supplied as collateral on the platform. By designing the platform to be non-custodial, Bloqboard is minimizing common inefficiencies associated with the way secured lending works today — such as collateral custody and collateral management which require trust and lack full transparency.

Blockchain lending activity rose sharply in 2018, primarily driven by the creation of CDPs and borrowing the Dai stablecoin on the MakerDAO protocol. In 2018, there was approximately $251m in originations across the four major protocols, with MakerDAO accounting for 96% of that volume. In addition, the volume of active loans on the four main lending protocols increased 1,200%, from December 31st, 2017 to December 31st, 2018 reaching $72 million.

Bloqboard’s full lending report is available at bloqboard.com/research.