MakerDAO is the Decentralized Autonomous Organization that enabled and currently sustains the Maker Protocol, the largest Decentralized Finance protocol by total value locked that generates and maintains DAI, the first decentralized stablecoin. The Maker Protocol is an open-source smart contract system publicly deployed on Ethereum that anyone can use to generate liquidity by minting the DAI stablecoin. The tokens that sustain the Maker Protocol are MKR for governance, and DAI as the stablecoin. * MKR is the governance token used by its holders to vote and decide on proposals that aim to improve or change the system. * DAI is the decentralized stablecoin hard pegged to the US Dollar and backed by crypto and legacy finance assets. The Maker Protocol enables this liquidity via three main products: * Maker Vaults: a tool where anyone can deposit crypto assets as collateral and generate DAI as a loan against it. * Peg-Stability Module (PSM): a tool where any user can swap other stablecoins.
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