A decentralized autonomous organization for the Dai stablecoin
Maker is a protocol run by MakerDAO, a decentralized organization dedicated to bringing financial stability and transparency to the crypto economy. It is also the platform behind Dai, a stablecoin. Stablecoins are just what they sound like: Crypto currencies that are more resistant to volatility than other types of coins. Dai is pegged to the US dollar and stabilized using collateral in Ethereum, as well as incentives and automatic feedback. Once generated, Dai can be sent to others, used as payments for goods and services, or held as long-term savings.
When the market is extremely volatile, Dai can be a safe place to park your assets. Dai can be used as collateral, and as a stable asset to trade against. Using that stable currency, MakerDAO, the decentralized “government” behind Maker, is one of the longest-running projects working on performing the functions of a traditional banking system, including lending, savings, and even real estate loans. Owners of Maker’s other coin, (MKR), can vote on changes to this system, as well as how these changes are implemented.