👛 DeFi upstart Dharma brokers $6.4 million in crypto loans in first 3 weeks

Since its launch on April 8th, peer-to-peer lending service Dharma Labs has brokered some $6.4 million in crypto loans. Over April's entirety, incumbent BlockFi has facilitated $18 million. Dharma Labs, as one of the few DAI ($DAI) stablecoin vendors, has had some 650 users act as a loanee or loaner to date. Dharma Labs' Max Bronstein added that Dharma Labs lending service is helping to push DAI back above its $1 peg by offering high-interest rates for loanees. The crypto lending service is looking at adding more coins such as Bitcoin ($BTC) and the Paxos Standard Token ($PAX)

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.