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DAO Maker (DAO) is the 146th largest cryptocurrency in the world by market cap, valued at $318,427,200. The current price of DAO Maker is $1.134, which is 12.277% higher than yesterday. Prices have ranged between $1.062 and $0.92433 over the past 24 hours. All prices are listed in US dollars and accurate as of January 30, 2023 06:01 UTC.
MakerDAO is a decentralized governance community that runs the Maker Protocol, which makes it possible to generate Dai. Dai is one of the world’s major stablecoins and it tracks the US dollar as closely as possible through smart contracts on the Ethereum blockchain.
According to the whitepaper, it allows anyone with Ethereum and a MetaMask wallet to lend themselves money in the form of Dai. You can also lock Dai in the Dai Savings Rate (DSR) smart contract to earn a variable rate of accrual while retaining control of your Dai. MKR token is the governance token of the Maker Protocol. As a holder of MKR, you can vote to change parameters in the smart contracts to ensure the stability of Dai. Unlike Dai, which is a stablecoin designed for payments and savings, MKR has a volatile price.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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