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How MakerDAO flourishes in China where the idea of decentralization is slow to catch on
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Quick Take
- When it comes to choosing financial services providers, Chinese users tend to prefer reputation and practicality over decentralization
- However, China has a growing appetite for DeFi, contributing to 10% of MakerDAO’s web traffic
- MakerDAO is riding the DeFi tailwind in China and looking to further boost its presence
In China, where people often favor practicality and reputation over decentralization, decentralized protocol MakerDAO still draws a big crowd. As Maker’s second-largest user base, China contributes 10% of MakerDAO’s website traffic in 2019, where most of the users go to open collateralized debt positions (CDP, now called Vault), according to MakerDAO’s China lead Chao Pan. […]
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