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MakerDAO – stable cryptocurrency on the Ethereum

From the first stages of creating the Ethereum ecosystem, its founders have repeatedly stressed the need to create digital assets, which cost must be linked to real world assets – fiat currencies or precious metals is a stable cryptocurrency (stablecoin).

The project Maker is a Decentralized Autonomous Organization (DAO), which develops stablein on the Ethereum blockchain.

Decentralized steamline in the near future will occupy a major place in the space of the blockchain. It is difficult to list all possible areas of their application, starting with the huge potential in the field of trade and Finance that can destroy the financial monopoly, to taxation and free movement of capital between people, not paying attention to state borders, which put an end to the possibilities of the authorities to arbitrarily restrict the rights of its citizens. In addition, a decentralized steamcon is a required component for a large number of smart contracts and Ethereum apps in the Internet of things.

Of course, the concept steamline has been around for several years. As a working project can be noted Steem Dollar, used for calculations in a decentralized social network Steemit, but it has limited application due to the low prevalence of systems based on the Bitshares platform, and the Protocol of consensus DPOS does not provide sufficient reliability.

Stable cryptocurrency Dai

Maker develops steblay Dai (Unicode ) – token standard ERC20 that allows you to use it in all smart contracts, Ethereum, and stored in standard wallets (MEW, Mist, etc.). According to the latest version of the roadmap MakerDAO, the launch of Dai will take place early in the second quarter of 2017. Technically Dai is not bound to Vietnam currencies, but oracles, which provide information on current rates of assets denominated in SDR (special drawing rights). As of 12 January 2017, the primary course will be Dai 1 Dai = 1$ US, and daily movement will come out of the corridor of +/- 5%, which is comparable to the daily fluctuations of one Fiat currency against another.

Another feature of the Dai is to be able to fully anonymous transactions. It can be a ring-type signature of Monero, or zk-SNARK technology zcash for. Today, these options are missing in the roadmap MakerDAO, but they are planned in the next release of Ethereum Metropolis, and will be automatically compatible with Dai.


MakerDAO and token-action MKR

Maker has the structure of DAO. This means that any investor in the Maker becomes part of the community that is the backbone of the economy Dai. For investment in Maker is the token MKR (also ERC20). The owners of MKR – the highest court in DAO, they control the system and participate in the distribution of profits, but they also have to bear losses if the decisions fail. Therefore, investors should be prepared to cooperate among themselves and take responsible decisions. MKR is now available for purchase at the Maker Market, the world’s first cryptocurrency exchange, which is fully working on smart contracts, Ethereum, and all operations are executed in standalone mode, without the control of the person and the Commission within the system are missing (in addition to the standard payment for gas in the Ethereum network).


Marginal Trade

The second key element of the system Maker Platform margin trading. Released each Dai is provided by the CDP – Collateral Debt Position (Collaterized Debt Position), sent on the same smart contract, which is a decentralized platform margin trading, and provides higher safety and low cost compared to existing systems margin trading.

Together steblay Dai, the exchange Market Maker and CDP platform margin trading represent a complete financial solution for everyone, from rural India to wall street.

The Fund supports Ethereum project MakerDAO and considers it one of the most important elements of the Ethereum ecosystem.


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