MakerDAO is likely one of the first and largest decentralized lending protocols, typically tagged because the central financial institution of crypto. It additionally points the $6 billion stablecoin DAI, whose worth is backed by some $8 billion belongings in its reserve. The protocol is ruled by a decentralized autonomous group (DAO), the place contributors handle the platform and focus on decision-making proposals in a discussion board, and homeowners of the platform’s governance token, maker (MKR), vote to approve or reject every proposal.
