- Where you can interact with the Dai Credit System
The MakerDAO Collateralized Debt Position (CDP) is a smart contract which runs on the Ethereum blockchain. It is a core component of the Dai Stablecoin System whose purpose is to create Dai in exchange for collateral which it then holds in escrow until the borrowed Dai is returned.
CDPs alter the total supply of outstanding Dai, creating Dai when new assets are leveraged and destroying existing Dai when it is repaid to the position. This cycle of controlled minting and burning allows the contract to account for the total supply of the stablecoin, thus proving that the portfolio of backing collateral can always guarantee the value of circulating Dai.
The amount of collateral in a CDP is always set to be significantly higher than the amount of the debt, so stability seekers who wish to use Dai as a predictable store of value can be confident that 1 DAI is worth approximately 1 USD in underlying assets.
Join the community to learn more about Maker, chat with the team, and have your say in shaping the future of commerce on the blockchain.
1440 events -15.29% (30d)
5433 events (90d)
- Daily 6,612
- Weekly 41,086
- Monthly 158,831
- 1 day 11,597
- 7 days 79,865
- 30 days 367,962
- 1 day 32,818.743
- 7 days 89,234.307
- 30 days 765,700.68
DAI is the decentralized stable coin from Maker DAO. Maker DAO is the decentralized autonomous organization on the Ethereum blockchain that strives to maintain balance by curbing volatility by offering collateralized crypto loans through its stable coin DAI and its native currency MKR.
One of the major industry blockchain technology is disrupting is finance and banking. Of late, we are seeing several ventures croping up to extend digital asset backed credit to investors of cryptocurrencies. Projects like Celsius, Nexo, Salt etc. are trying to serve this purpose of extending liquidity against the holdings of crypto assets. Maker DAO is striving to do this with a decentralized governance based model.
Maker has received a solid overall rating of 4.0/5 - It is a well functioning and clean dapp doing exactly what it is meant to do
This page had 2637 views and 703 clicks (27% CTR) in the last 180 days