MakerDAO | Vibepedia

MakerDAO operates as a decentralized credit platform, primarily known for creating and managing the [[dai|Dai]] stablecoin. It is one of the earliest and most significant decentralized applications (dApps) to achieve widespread adoption. The governance of MakerDAO is controlled by holders of the [[mkr|MKR]] token, who vote on critical protocol parameters, risk management, and upgrades. Users can generate Dai by locking up collateral in smart contracts. MakerDAO underwent a rebranding to [[sky-protocol|Sky]] in August 2024.