MakerDAO
DAO is an Ethereum-based decentralized protocol that provides collateral-backed loans without intermediaries. It uses tokens:DAI(a stablecoin) and MKR(a governance token), and operates through a collateralized debt position system in which users lock Ether to generate DAI stablecoins.MKR Token holders have governance rights over the MakerDAO protocol, while DAI provides a stable alternative to volatile cryptocurrencies, created through overcollateralized loans.
Overview
DAO is an Ethereum-based decentralized protocol that provides collateral-backed loans without intermediaries. It uses tokens:DAI(a stablecoin) and MKR(a governance token), and operates through a collateralized debt position system in which users lock Ether to generate DAI stablecoins.MKR Token holders have governance rights over the MakerDAO protocol, while DAI provides a stable alternative to volatile cryptocurrencies, created through overcollateralized loans.
- Sector
- # Other
- Ecosystem
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Team
Team information has not been disclosed.
Funding history
3 disclosed rounds- Unknown
27,500,000 USD
- Strategic
15,000,000 USD
- Unknown
12,000,000 USD
Related news
Market updates
A dormant third-party MakerDAO liquidation bot proxy was drained of 200 tokens WETH, with losses of approximately 538000 USD
Citing Defimon Alerts, BlockBeats reported that an address withdrew funds from a dormant MakerDAO ETH-A liquidation bot proxy: 200 tokens WETH. The incident arose because the third-party proxy's exit function lacked access controls; the MakerDAO core contract operated as designed.
People updates
No related people updates.