What is the purpose of MakerDAO in the cryptocurrency industry?

1 answers

• May 08, 2022 · 3 years ago
  MakerDAO, as a decentralized autonomous organization, has a significant impact on the cryptocurrency industry. Its purpose is to provide a stable and decentralized alternative to traditional fiat currencies. MakerDAO achieves this by creating and managing the stablecoin Dai, which is backed by collateralized assets. This stability makes Dai an attractive option for users who want to transact and store value without being exposed to the volatility of other cryptocurrencies. MakerDAO also promotes financial inclusivity by allowing anyone with an internet connection to access and use Dai. Its decentralized governance model ensures that important decisions are made collectively by token holders, making it a truly community-driven project.
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