MakerDAO

Background & OverviewMakerDAO

is a decentralized autonomous organization (DAO) focused on stablecoin generation and lending protocols in the decentralized finance (DeFi) space. It runs on the Ethereum blockchain and enables borrowing and lending between users and the generation of Dai stablecoins through smart contracts. MakerDAO's core product is Dai, a decentralized stablecoin pegged to the U.S. dollar that is widely used in a variety of applications in the DeFi ecosystem, such as trading, lending, and paying.

Registered address with the legal entity

MakerDAO As a decentralized project, there is no traditional registered address. It runs on the Ethereum blockchain through smart contracts, and governance is determined by MKR token holders through voting. This decentralized nature means that it does not have a physical office or corporate entity, and therefore does not have a public registered address.

Founded-time

evidence leans MakerDAO was founded in 2015 and officially launched in December 2017. This information comes from multiple sources, suggesting that it was born in the early stages of the cryptocurrency industry's development, especially at a time when the concept of DeFi was beginning to take off.

Products &

ServicesMakerDAO's core products and services revolve around decentralized lending and stablecoin generation, aiming to provide users with a simple, secure, and transparent way to provide financial services. Here is a detailed description of its main products and services:

1. Generate Dai Stablecoin: Features: Users can generate Dai in MakerDAO's smart contracts by locking other cryptocurrencies such as ETH as collateral. Features: Non-custodial: Users are always in control of their private keys and funds, and the platform does not hold user assets. Stable Value: Dai remains pegged 1:1 to the U.S. dollar through collateral and interest rate mechanisms. Example: A user locks ETH to generate Dai as a loan, which unlocks collateral when the loan is repaid.
2. Lending Protocol: Features: MakerDAO allows users to borrow Dai while using other cryptocurrencies as collateral. Features: Globally accessible: Can be used by any internet-connected user without KYC (Know Your Customer) verification. Trust minimization: The lending process does not require trusting a third party, just math and cryptography.
3. DeFi Tools: Features: MakerDAO provides a suite of open-source tools that allow developers to build lending applications from the command line or in the browser. Features: Flexibility: Developers can create their own lending products using MakerDAO's protocol. Transparency: All transactions are executed on-chain through smart contracts, ensuring transparency.
4. Governance Mechanism: Function: The governance of MakerDAO is determined by voting by MKR token holders, which is MakerDAO's governance token. Feature: Community-driven: MKR holders can propose and vote on protocol improvement proposals. Incentives: The value of the MKR token is closely tied to the success of Dai, with holders earning potential benefits through governance participation.

History and DevelopmentBackground

• of Establishment: MakerDAO was founded by Rune Christensen in 2015 to solve the centralization of the traditional financial system and provide users with more transparent DeFi services.
• Investment & Support: The company has received investments from YCombinator, Polychain Capital, Green Visor Capital, and Coinbase Ventures, demonstrating its potential in the DeFi space.
• Ecosystem integration: As of May 8, 2025, more than 400 apps and services have integrated Dai, including wallets, DeFi platforms, games, and more, showing its wide range of applications in the DeFi ecosystem.

Potential Advantages and Risks

• : Decentralization: Provide fully decentralized lending services and reduce reliance on central authority. Stablecoin support: The stable value of Dai provides a reliable medium for trading and lending in DeFi. Innovative: Expanding the use of DeFi through smart contracts and open-source tools.
• Risks: Smart contract vulnerabilities: As in the case of the Ethereum DAO, smart contracts may have security vulnerabilities that require strict auditing. Insufficient liquidity: As a niche platform, MakerDAO may face a lack of liquidity. Regulatory uncertainty: Decentralized projects can face regulatory challenges, especially when it comes to fiat currencies.

Contrast and Industry

• PositioningMakerDAO's model is similar to other DeFi lending platforms (such as Aave or Compound), but its uniqueness lies in the fact that as one of the earliest stablecoin generation protocols, Dai's widespread adoption has given it an important place in the DeFi ecosystem. Compared to traditional exchanges, MakerDAO focuses more on lending and stablecoin generation than direct trading functions.

ConclusionMakerDAO

• is a decentralized autonomous organization founded in 2015 and officially launched in December 2017, with no traditional registered address, running on the Ethereum blockchain. Its main products and services include the generation of Dai stablecoins, lending protocols, DeFi tools, and governance mechanisms. It is not an exchange, but supports DeFi applications through the generation and management of Dai, and users can trade with Dai on other DEXs such as Uniswap.