MKR volatility and market (ETH) volatility

In this report, we aim to analyse the effects of the crypto market’s growth on a protocol — using MakerDAO as an example.

Summary: What is risk?

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The rise of funds flowing into the crypto market in 2021 has attributed much growth to the DeFi movement. Some protocols have seen much success, but how much of the particular growth of a protocol comes from the intrinsic value of the protocol itself? That is to say, is there a way one can analyse the intrinsic value of a protocol? In this report, we aim to analyse the effects of the crypto market’s growth on a protocol — using MakerDAO as an example.