Maker DAO: cryptocurrency description, existing problems

Maker DAO is a decentralized autonomous system operating on the Ethereum blockchain, within which there are two types of tokens: MKR (internal currency of the platform) and DAI (stable digital currency, the value of which is pegged to the US dollar).

MKR Token:

  1. Asset holders can vote on proposals aimed at developing the network
  2. It is used for payments within the network, payment for services and commissions.
  3. After use, MKR is destroyed

DAI Token:

  1. Stable coin allows you to reduce the cost of international transactions to an adequate level
  2. Increased operational efficiency and reduced likelihood of corruption through fully verified DAI transactions

Mining: impossible.

Replenishment: through crypto exchanges (for example,, OKEx, HitBTC, Radar-Relay and others), you can trade an asset in pairs with BTC, ETH, USDT, American dollar, etc.

Storage: any wallets that support the ERC-20 standard (for example, MyEtherWallet, MetaMask, Ledger Nano S, Trust, ImToken).

Advantages of the system:

  • High level of automation
  • Absolute anonymity of transactions
  • No restrictions on transactions
  • Support from major market players. Vitalik Buterin calls Maker “part of the Ethereum ecosystem”
  • Well-thought DAI creation mechanism
  • MKR as a long-term investment
  • Significant cost savings on commissions and no taxes
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