Maker Brings Real Estate Industry To DeFi Ecosystem

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Maker (MKR) started funding for loans, bringing the real estate industry to the DeFi ecosystem. Maker saw ATH after development.

Lending platform Maker has added real-world assets to the DeFi industry by providing financing for mortgages. Making a statement on the matter, MakerDAO member S├ębastien Derivaux said that Maker made 38,000 DAI mints out of nothing to finance a mortgage loan.

In the transaction of the minted DAI, according to Etherscan data, it is seen that the DAI does not come from anywhere (0x0). Derivaux states that at the bottom is the property collateral NFT.

In Coindesk news, Derivaux says the project will initially be used to renovate homes in the US and finance loans.

Maker formed partnerships for its new service

Maker works with real estate loan company New Silver Lend for real estate financing and Centrifuge, which finances real-world assets in the DeFi ecosystem. Derivaux stated that New Silver Lend is a legal company and shared Maker’s risk assessment.

Centrifuge said that with the integration with MakerDAO as a result of the vote, they can bring trillions of dollars in assets to the DeFi ecosystem. In addition, Centrifuge notes that Maker has the potential to work with New Silver Lend to make DeFi a competitor to the traditional banking industry.

MKR hit an all-time high of $ 4,961 in the 24-hour time frame.

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