Compound at the highest. Compound is one of the Angular lending protocols of the Challenge on Ethereum. This was one of the first to introduce the concept of governance token. Recently, the protocol has reached over$1 billion borrowed in its pools.
Indeed, the outstanding debt on the Compound protocol exceeded $1 billion. More specifically, it is currently located at $1.04 billion.
In practice, this represents all the cryptos that have been borrowed by users in the protocol pools. In the lead, we find the market forUSDC with $631 million borrowed, followed by the DAI with 178 million dollars, thenUSDT with $159 million and finally some wETH with $60.9 million.
Such numbers had no not been recorded since September 2022, just before the collapse of the FTX exchange that occurred two months later. Nevertheless, it remains far from the record at 9.31 billion dollars borrowed reached in June 2021.
This return can be explained by the fall of many centralized praetors. This is particularly the case of Celsius and its CEO who are accused of deception by US regulators.