At DuneCon 2024, Sonya Kim from Steakhouse Financial shared how on-chain data is revolutionizing financial reporting in DeFi, bridging traditional finance (TradFi) rigor with blockchain transparency. She highlighted the growing importance of fundamentals in driving token value, showcasing how protocols with improving per-token metrics significantly outperform those without.

Drawing inspiration from the SEC-mandated 10-K reports, Steakhouse Financial created a blockchain-native 2023 MakerDAO Retrospective Report. This 50-page document offers real-time insights into MakerDAO’s financial operations, such as its evolution from crypto-backed collateral to integrating real-world assets like U.S. Treasury Bills. This pivot enabled MakerDAO to achieve record revenues in 2023, with 95% of collateral deployed into earning opportunities, outperforming even traditional banks in efficiency.

Sonya emphasized how on-chain data democratizes access to financial insights, enabling anyone to analyze operations in real time. She concluded by highlighting DeFi’s potential to surpass traditional systems in transparency, scalability, and trust, driven by tools like Dune Analytics. "On-chain transparency isn’t just better reporting—it’s a paradigm shift," she stated.