MakerDAO is a decentralized autonomous organization (DAO) that issues the stablecoin DAI. As a decentralized lending platform (also called DEX), MakerDAO enables borrowing and lending. In doing so, Maker clearly differentiates itself from the traditional financial world by allowing users to borrow against deposited crypto assets as collateral, which they deposit in smart contracts. Maker's stated goal is to "enable financial freedom without volatility".
To achieve this goal, MakerDAO uses the Maker protocol. This protocol is built on the Ethereum blockchain. Granted crypto loans are transacted via Ethereum smart contracts.
MKR is the governance token of MakerDAO. This financial protocol operates the DAI stablecoin. Both MKR and DAI are based on the Ethereum blockchain and allow tokens to be used in smart contracts, decentralized applications (DApps), as well as other functionalities offered by the Maker network. The governance token MKR includes voting rights for their holders.
The MakerDAO consists exclusively of MKR holders, who come from all over the world. MKR holders can use their MKR tokens to vote on new proposals on the Maker protocol.
