MakerDAO is a pioneering DeFi platform on Ethereum, managing Dai stablecoin and enabling decentralized governance with MKR. More
| Fully Diluted Valuation | $679.81M |
|---|---|
| 24H Trading Volume | $74.35M |
| 24H Low / High | $1.61 K / $ 1.68 K |
| Circulating Supply | 0.00 |
| Total Supply | 414.73 K |
| Max Supply | 1.01 M |
| Categories | Paradigm Portfolio 18 more |
|---|---|
| Founder | Rune Christensen |
| Website | blog.makerdao.com |
| Socials | 2 more |
| Chains | Ethereum Ecosystem 4 more |
| Explorer | Dex 9 more |
| Contracts |
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4 more
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| Name | Pair | OG Score |
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MakerDAO stands at the forefront of the decentralized finance (DeFi) landscape, representing a pioneering decentralized organization that has deeply integrated itself into the Ethereum blockchain. Launched in December 2017, this revolutionary platform primarily focuses on operating the Maker Protocol, a set of smart contracts responsible for managing the innovative Dai stablecoin. Dai, an ERC20 token, offers a stable alternative to volatile cryptocurrencies, maintaining its value close to the US dollar. This is achieved through a unique mechanism where loans are issued in Dai against Ethereum collateral, ensuring stability even in the dynamic crypto market.
The dual-token system of MakerDAO, consisting of Dai (DAI) and Maker (MKR), is central to its ecosystem. While Dai provides a dependable stablecoin solution, MKR functions as a governance token, giving its holders voting rights in the protocol’s management. Maker's distinctiveness lies in its direct empowerment of MKR holders to influence crucial decisions, ranging from adjusting risk parameters to selecting new collateral asset types, thereby actively shaping the protocol’s evolution. This model of governance has positioned MakerDAO as a key player in the DeFi sector, fostering a community-led approach towards decentralized lending and borrowing.
Furthermore, the MakerDAO ecosystem, created by Rune Christensen in 2015, demonstrates the potential of blockchain in achieving financial transparency and stability. It has evolved from offering single-collateral loans in Ether to embracing multi-collateral options, significantly expanding its scope and utility. As one of the oldest and most established protocols in DeFi, MakerDAO not only signifies the success of decentralized autonomous organizations (DAOs) but also plays a crucial role in the broader global economic landscape, contributing to the growing acceptance and integration of blockchain technology in mainstream finance.
Maker (MKR) is unique for its dual role in the MakerDAO ecosystem. It serves as a governance token, giving holders voting rights on key protocol decisions. Additionally, MKR is crucial for the financial stability of the Maker Protocol, being used in Debt Auctions to manage system debt and in Surplus Auctions to control its supply.
Rune Christensen, an entrepreneur from Denmark, is the founder of MakerDAO. He established the Maker Protocol in 2014, bringing it to full launch in December 2017.
MakerDAO's notable investors include Polychain Capital, Andreessen Horowitz, 1Confirmation, FBG Capital, Walden Bridge Capital, Wyre Capital, a16z Crypto, Dragonfly Capital, and Paradigm. These investors participated in private seed rounds held between December 2017 and December 2019.
You can buy Maker (MKR) on Binance, OKXBitgetGate.ioBybit cryptocurrency exchanges.
