What is Maker (MKR)? | Maker MKR Explained in Under 60 Seconds

The Maker Protocol is a set of smart contracts that allow users to issue & manage the DAI stablecoin. The Maker Vault facilitates the generation of Dai against locked up Collateral. Maker Coin (MKR) is an ERC-20 token that is native to the Maker Protocol. MKR tokens act as a kind of voting share for the organization that manages DAI.

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MakerDAO is a decentralized governance community that manages the generation of Dai through governance of the Maker Protocol.

Dai is a decentralized, collateral-backed stablecoin pegged to the US Dollar. The Dai Savings Rate (DSR) is a variable rate of accrual earned by locking Dai in the DSR smart contract. The DSR smart contract has no withdrawal limits, deposit limits, or liquidity constraints.

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