MakerDAO

Payments
MakerDAO header

MakerDAO

Payments

Frictionless, stable and decentralized currency

Cayman Islands, Georgetown
$55M
Total amount raised
2015
Year of establishment
Active
Status

About

Hi we’re MakerDAO!


MakerDAO is a decentralised and permissionless platform that enables lending and borrowing of cryptocurrencies.

The MakerDAO system consists of two cryptocurrencies: DAI and MKR (Maker). Together, the two tokens create the lending and borrowing functionality that makes the MakerDAO platform stand out.

DAI is an ERC-20 stable coin. It’s value is pegged to the US dollar, meaning that every DAI is worth 1 USD. When someone takes on a loan on the MakerDAO platform, extra DAI are created. The loan is given in DAI, and should also be paid back in DAI.

The purpose of the Maker (MKR) token is to maintain price stability of the DAI. MKR also functions as a governance token, as MKR holders gain voting rights to decide on the future of the platform.

The decentralised and permissionless nature of MakerDAO enables lending and borrowing without middlemen. Not only does this greatly increase global financial inclusion, it also decreases interest rates and other costs involved with a system that needs middlemen.

Key objective

Unlocking the power of the blockchain to deliver on the promise of economic empowerment today.

Slogan / Motto

A Better Money

Use cases

Digital Currencies
Stablecoins

Team

Team members

Rune Christensen Chief Executive Officer

Responsibilities

Chief Executive Officer and Cofounder of MakerDAO. MakerDAO issues Dai, the world’s first stablecoin on the Ethereum blockchain, that eliminates volatility through a system of smart contracts designed to respond to market dynamics. Since 2015, I have focused on establishing the vision and organizational structure of the Maker Decentralized Autonomous Organization and the economic foundations of the Dai stable digital currency. Previously, I served as co-founder of Try China, a company providing international recruiting.

Steven Becker President and Chief Operating Officer

Responsibilities

Design and implement an operational framework to support the supply of stable coin into the blockchain ecosystem.

Customers / Partners

Products

Tokens

Maker
Maker
($MKR)
Type
Utility tokens
Token standards
ERC-20
Price
$3,945.01
Market Cap
$3,636,963,076.00
Dai
Dai
($DAI)
Type
Stablecoins
Token standards
ERC-20
Price
$1.00
Market Cap
$3,428,177,478.00

Funding

Received funding
$54,500,000
Total amount raised
4
Rounds
12
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
$27,500,000
Venture
Paradigm
Dragonfly Capital Partners
N/A
Private Equity
Parafi Capital
$15,000,000
Venture
Andreessen Horowitz (a16z)
$12,000,000
Venture
1confirmation
Andreessen Horowitz (a16z)
FBG Capital
Fenbushi Capital
Polychain Capital
Scanate
Walden Bridge Capital
Wyre Capital

News

Ethereum creator donates 100 Ether and Maker to Indian COVID-19 relief

The donation was made after the co-founder of Polygon set up a charity drive to aid COVID-19 relief amid India's second wave.


9 days ago


General news
Ethereum
MakerDAO

MakerDAO moves to expand collateral assets and upgrade liquidation engine

The new liquidation engine has been designed to offer Maker’s users greater predictability and security.


15 days ago


Product update/release
MakerDAO

DeFi governance games: MakerDAO

Quick Take MakerDAO is one of the oldest successful DAOs on Ethereum with functioning governance. Anyone can participate in off-chain governance, while for governance polling, it is necessary to hold MKR. Executive voting, in turn, requires locking tokens in the governance contract. Despite the 9x growth of TVL, governance at MakerDAO continues to be relatively centralized and passive.


5 months ago


Research
MakerDAO
Ethereum

There’s Now $3 Billion in Outstanding Crypto Loans in DeFi

Aave, Compound and MakerDAO are lending out huge sums of money.


5 months ago


General news
Aave
Compound Labs
MakerDAO

Some loans on Maker are never liquidated, prompting debt auction overhaul

Small loans for $100 are uninteresting to liquidators, and they're cheap to stack up.


6 months ago


Research
MakerDAO