makerDAO

MakerDAO is a Decentralized Autonomous Organization that operates on the Ethereum blockchain. It is known for creating and managing a stablecoin DAI, which is pegged to the US dollar.

Company Details

• Native Token: MKR
• Founder: Rune Christensen
• Founded: 2014
• Headquarters: Santa Cruz, California, United States

Key Features:

• The Maker platform is one of the initial projects in the decentralized finance space.
• Users can open vaults to borrow DAI by depositing crypto assets like ETH and WBTC as collateral.
• MKR is its native token that can be minted or burned to manage risks related to Dai's stability.
• Users are allowed to lock Dai into the Dai Savings Rate (DSR) contract to earn interest passively.

FAQs

1. Who is the founder of MakerDAO?

Rune Christensen

2. When was MakerDAO established?

The platform was founded in 2014