Dependable and diverse yields: Inside the yAxis v3 upgrade and UIRead on the DeFi Pulse Blog

Key Stats

Total Value Locked24H
in USD$18.08B-8.9%
in ETH6M ETH-5.0%
in BTC419.5K BTC-4.9%
ETH Locked2.72M ETH-1.5K ETH
% Supply Locked2.29%
Blockchain
Ethereum
Most Locked$WETH
Protocol Token$MKR

Total Value Locked (USD) in Maker

  • TVL (USD)
  • ETH
  • BTC
  • DAI
  • All
  • 1 Year
  • 90 Day
  • 30 Day
defipulse chart

What is Maker?

MakerDAO is a decentralized credit platform on Ethereum that supports Dai, a stablecoin whose value is pegged to USD. Anyone can use Maker to open a Vault, lock in collateral such as ETH or BAT, and generate Dai as debt against that collateral. Dai debt incurs a stability fee (i.e., continuously accruing interest), which is paid upon repayment of borrowed Dai. That MKR is burned, along with the repaid Dai. Users can borrow Dai up to 66% of their collateral’s value (150% collateralization ratio). Vaults that fall below that rate are subject to a 13% penalty and liquidation (by anyone) to bring the Vault out of default. Liquidated collateral is sold on an open market at a 3% discount. Holders of Maker’s other token (MKR) govern the system by voting on, e.g., risk parameters such as the stability fee level. MKR holders also act as the last line of defense in case of a black swan event. If system-wide collateral value falls too low too fast, MKR is minted and sold on the open market to raise more collateral, diluting MKR holders. Maker also has a feature called the Dai Savings Rate (DSR). DAI holders can lock their DAI into Maker’s DSR contract and earn a variable interest rate in DAI, which is generated from stability fees.


How to use Maker?

The most popular place to use MakerDAO is Maker’s Oasis Portal. There you can open and manage Vaults, review your Vault’s history, deposit DAI into the Dai Savings Rate, and get up-to-date stats on the whole Maker system. We also have step-by-step guide.

Notional Finance: the best fixed interest rates in DeFi and TradFi!

Notional Finance is arguably the best fixed-rate borrowing and lending platform in DeFi or TradFi.  That’s because Notional offers users…

2021-11-02Read more >

Oasis.app: Growing Crypto’s Tried-and-True Dai and DeFi Gateway

Maker, Ethereum’s first-ever DeFi application, is a decentralized credit platform offering users access to the most proven permissionless stablecoin to…

2021-09-20Read more >

Founder Fireside Chat with Kryptocucumber of Ruler Protocol

The Founder Fireside Chat series hosted by DeFi Pulse interviews DeFi founders in the hopes of offering readers an opportunity…

2021-08-26Read more >

Founder Fireside Chat with Lao Zi of QiDao Protocol

This week we’re joined by Lao Zi, anonymous founder of QiDao Protocol, who shares their advice for building community around…

2021-07-08Read more >