Why a DeFi platform ditched its consumer app to become the secret backend for tech giants
CoinDesk·
60-second summary
A DeFi platform is shifting its focus from a consumer app to providing backend services for tech giants, driven by a significant revenue decline from $80 million to $20 million in the bear market.
Revenue fell from $80 million to $20 million in the bear market. OTC lending at $260 million outstanding is the fastest-growing line, targeting $1 billion by year-end.