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Maker

    Maker

    The Maker Protocol is a MCD system that allows to generate Dai by leveraging collateral assets.

    founded

    March 2015

    treasury

    no info

    market

    $1,75b


    mission

    MakerDAO brings Financial Stability and Transparency to the World Economy

    current challenges

    •  Governance Development and Contributions to System Maintenance 

    Push MakerDAO to become self-sustaining through initiatives such as the Maker Improvement Proposals; support the current governance user interface; system maintenance; educating regulatory agencies and members.

    •  Oasis 

    A reimagined and rebuilt Oasis supporting the MakerDAO ecosystem.

    •  Eliminate Informational Asymmetries with the Maker Community 

    The foundation will continue to contribute information from our teams to educate Dai market makers and MKR holders about day-to-day activity in Dai markets. 

    culture & values

    •  Scientific Governance

    The Maker Governance Framework will be built on rigorously vetted, reproducible, scientific models created by experts with proven track records in the traditional finance space.

    •  Serving The Underserved

    Serving the underserved refers to the focus on Dai adoption in emerging markets, recognizing the tremendous opportunities for growth that results from reducing inefficiencies in the global economy.

    •  Sustainable Finance

    The makeup of the Dai collateral portfolio can have a significant impact on global capital allocation. It is therefore crucial that governance of the collateral portfolio take long-term societal, environmental, and sustainability impact into account.

    •  Gradual Decentralization

    The Maker Foundation is committed to true decentralization but the road to decentralization needs to be paved with care to ensure the Foundation has the support it needs to be successful and protect against threats to the long-term goal of decentralization.

    history

    The first iteration was known as Single Collateral Dai (SCD) because Ethereum was the only asset used as collateral to take out a loan. It launched in December 2017 and grew to support $100 million worth of debt. 

    In November 2019 MakerDAO upgraded the protocol to MCD with Basic Attention Token (BAT) being voted as the first additional collateral available. The existing single collateral system continues to function as is while users are encouraged to migrate to the new Dai. 

    Towards the end of 2018, the Maker Ecosystem Growth Fund (MEGF) was established to oversee the treasury of MKR tokens by nine board members chosen by the CEO Rune Christensen. According to a document from the former CTO Andy Milenius, titled ”Zandy’s Story”, after some disagreements as to how the fund was to be allocated, Rune presented two divergent choices. The “red pill” was for those who would follow his lead and focus on government compliance and integration into the existing financial system while the blue pill for those who didn’t want a formal organizational structure and would work on MCD and then cease to be funded.

    core team

    Rune Christensen - Founder & CEO

    Wouter Kampmann - Head of Engineering

    Mariano Conti - Head of Smart Contracts

    benefits

    The Maker Community is the wide world of people and organizations that use or support Dai. In short, the Maker Community is MakerDAO. From early adopters to Maker Foundation Employees to MKR holders, the Maker Community is an indispensable and critical part of the Maker system.

    Some perks we offer:

    • attractive MKR incentives
    • ability to transit into the fast-growing DeFi/crypto/blockchain domain and work in the DAO
    • possibility to learn the crypto space and be a part of a scaling team with excellent potential for personal growth
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