Down the Rabbit Hole: MakerDAO, The Growing Decentralized Credit Platform! Authored by Thedapplist.
Thedapplist keeps teaching and making the crypto space an interesting one.
In the latest edition of Down the Rabbit Hole, Thedapplist brings to you everything you need to know about @MakerDAO - Creators of $DAI
Read the full article here
About MakerDAO
MakerDAO is an Ethereum-based decentralized credit platform supporting Dai, a USD-pegged stable coin. Maker lets anyone create a Vault, deposit ETH / USDC / BAT as collateral, and then get to produce Dai as debt for that collateral. A stability fee (i.e., continually collecting interest) is charged on Dai debt and is paid upon return of the borrowed Dai. That MKR, as well as the repaid Dai, is then destroyed.
MakerDAO ecosystem: Current Status
The Maker ecosystem is among the first projects in the decentralized finance (DeFi) space, which aims to create decentralized financial products based on blockchains like Ethereum, enabled by smart-contract.
Today’s price of Maker (MKR) stands at 2,279.74 USD, with $73,493,423 USD in trading volume for 24 hours. Within the last 24 hours, Maker has gained 0.5% of its value. There are 991,328 MKR coins in circulation, with a maximum supply of 1,005,577 MKR coins.
If you’re looking for a place to buy Maker, the best exchanges right now are Binance, Huobi Global, Mandala Exchange, FTX, and OKEx.
DAI savings rate is 0.01%, and there are more than 6 million DAI with more than 7 million DAI debt ceiling currently. The system surplus for DAI stands at 54K+ holdings. There is more than 11 million USD worth DAI total locked in collateralization and its collateral ratio is 184.65%.
More than 400 services and apps are integrated with DAI, including:
- DeFi: InstaDapp, Uniswap, REN, Curve, etc.
- Wallet: Coinbase, Bitcointrade, Ledger, Metamask, etc.
- Games: League of Kingdoms, Sandbox, Xaya, F1 Delta Time, etc.
- Others: Museum of Contemporary digital Art, Foundation, OpenSea, Wirex, etc.
Visit Thedapplist to read the detailed article.
About Thedapplist
The Dapp List is a multi-chain ecosystem for curating Web3 adoption. It offers a community-governed platform that strives to increase adoption of the Web3 ecosystem and bridge the gap between Web2 and Web3 users.
Follow Thedapplist on:
