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• Stablecoins they are popular cryptocurrencies, and have now become a favorite for some investors due to the high volatility of traditional cryptocurrencies.
• MakerDAO Dai, a decentralized establishment linked to the US dollar, is on its way to the summit with the Maker Collateral Vault system.
• MakerDAO’s innovation is top-notch, as it introduced real estate to DeFi in 2021 and has other developments on its development page.
• MakerDao uses the perfect view of the community to climb to the top of Dai.

Stablecoins were developed to deal with the high volatility of traditional cryptocurrencies and are slowly becoming a favorite for investors. Dai, the stablecoin of the MakerDAO platform, was launched in 2017 and has since become a popular stablecoin protected by the price of the US dollar.

Most stablecoins protect reliable currencies, although some are protected by precious metals like gold and other assets. Overall, Maker Protocol features include Dai Stablecoin, Maker Vaults, Maker Protocol auctions and more. DAI is the world’s first unbiased currency that anyone can create without discrimination.

What is a Maker (MKR)?

MKR, Maker is a decentralized government of MakerDAO. MakerDAO is a decentralized blockchain-based organization that gives users the ability to manage Dai stablecoin.

MakerDAO has provided people with a collateralized system by guaranteeing the ability to create stable Dai by depositing them in platform vaults.

The user must deposit a community-based Ethereum-based asset in the vault, and the guarantee, which is more than the issued Dai, must be kept in the deposit until Dai is paid.

Dai is a highly sought after coin due to its usefulness in the DeFi ecosystem. Dai allows users to open access to liquidity, as all of Dai’s transactions can be viewed on the Ethereum blockchain.

Recent developments

MakerDAO brought many innovations to DeFi, which led to its massive acceptance, making it the 25th largest cryptocurrency with more active addresses than Tether today. MakerDAO made history by expanding the first automated cryptocurrency lending platform.

MakerDAO has introduced real estate in DeFi with loans against assets such as buildings, reminiscent of traditional financial institutions such as banks.

According to SYesBastien Derivaux, a prominent member of the MakerDAO community, said, “This is taking traditional finance from DeFi.” The project will fund the renovation of U.S. homes, which could be part of a real estate approved guarantee.

On the flipside side

• Dai competes with Tether and other centralized establishments because they loved the trust because it was the centralized entity behind it.
• The price of MKR, which rose to the top $ 4,000 in April, it has been struggling, standing at $ 2,525 amid the current market crash.

MakerDao’s Community

The community behind MakerDAO is moving to the top, as it is a decentralized stable. Its holders are directly involved in the coin governance process.

Although all members have the right to vote, the voting power depends on the amount bet. Generally, members can vote for platform upgrades and new types of active guarantees to be approved in the vault.

Previously, only Ethereum was supported before the community voted to accept other assets. Members can also vote to change the Dai savings rate.

Members can lock in their special Dai contracts and earn interest. At the time of writing, MKR has a capitalization of more than $ 2.5 billion, with a circulating supply of 1,005,577 MKR coins.

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