MakerDAO (MKR)
Basic Info
Token: MKR
Sector: Stablecoin Management
Governance: Onchain
Protocol Overview
MakerDAO is a decentralized organization that oversees the Maker Protocol, which is responsible for the creation and management of the DAI stablecoin. DAI is a decentralized stablecoin pegged to the US dollar and is backed by collateral assets that are locked in smart contracts on the Ethereum blockchain.
The Maker Protocol also includes the MKR token, which is used for governance decisions and to maintain the stability of DAI. MKR holders can participate in the governance of the Maker Protocol by voting on proposals and changes to the system parameters. The Maker Protocol also includes a stability fee, which is paid by users who generate DAI by locking up collateral, and a liquidation penalty, which is paid by users whose collateral falls below a certain threshold.
Resources
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