Hi we’re MakerDAO!
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.
Unlocking the power of the blockchain to deliver on the promise of economic empowerment today.
Slogan / Motto
A Better Money
Rune Christensen Chief Executive Officer
Customers / Partners
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
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
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
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
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