MakerDAO is one of the first and largest decentralized lending protocols, often tagged as the central bank of crypto. It also issues the $6 billion stablecoin DAI, whose value is backed by some $8 billion assets in its reserve. The protocol is governed by a decentralized autonomous organization (DAO), where contributors manage the platform and discuss decision-making proposals in a forum, and owners of the platform’s governance token, maker (MKR), vote to approve or reject each proposal.
Related posts
-
Multi-Billion Dollar Compensation Plan Goes To Vote
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five... -
FTX customers to vote on bankruptcy repayment plan
A U.S. judge approved FTX’s plan to poll creditors on its Chapter 11 repayment. FTX users... -
Tether Announces Shift to ‘Community Driven Support’ Regarding USDT in Eos and Algorand
Tether, the company that manages the issuance of USDT,...