Comparison of DAI and Maker
- Symbol: DAI
- Name: Dai
- Asset Platform: Ethereum
- Categories: @Base Ecosystem, Harmony Ecosystem, Gnosis Chain Ecosystem, Velas Ecosystem, Optimism Ecosystem, Arbitrum Nova Ecosystem, Metis Ecosystem, Cronos Ecosystem, Ethereum Ecosystem, Moonbeam Ecosystem, Near Protocol Ecosystem, Fantom Ecosystem, Arbitrum Ecosystem, Moonriver Ecosystem, Avalanche Ecosystem, BNB Chain Ecosystem, Polygon Ecosystem, USD Stablecoin, Decentralized Finance (DeFi), Stablecoins
- Market Cap Rank: 18
- Price Change Percentage (30d): 18 day
- Description: MakerDAO has launched Multi-collateral DAI (MCD). This token refers to the new DAI that is collaterized by multiple assets.
- Symbol: MKR
- Name: Maker
- Asset Platform: Ethereum
- Categories: @Real World Assets (RWA), Polygon Ecosystem, Arbitrum Ecosystem, Ethereum Ecosystem, Avalanche Ecosystem, Near Protocol Ecosystem, Lending/Borrowing, Governance, Decentralized Finance (DeFi)
- Market Cap Rank: 43
- Price Change Percentage (30d): 10.57121 day
- Description: MKR is a cryptocurrency that works alongside the Dai coin. It aims to act as a hedge currency, providing traders with a stable alternative to most coins in the market. Maker offers a transparent stablecoin system that can be inspected on the Ethereum blockchain. MKR is not a well-known project but has gained prominence recently with a 40% surge. It was developed by MakerDAO and went live on December 18th, 2017.
Dai (DAI) Details
DAI is a multi-collateral token collaterized by multiple assets. It is part of various ecosystems including Ethereum, Harmony, Gnosis Chain, and many others. Currently ranked 18th in terms of market capitalization, DAI has experienced an 18% price change over a 30-day period.
Maker (MKR) Details
MKR is an ERC-20 token on the Ethereum blockchain. It acts as a smart contract platform and works in conjunction with Dai. MKR aims to provide a stable alternative to other cryptocurrencies. It belongs to ecosystems such as Polygon, Arbitrum, Ethereum, and others. Currently ranked 43rd in terms of market capitalization, MKR has seen a 10.57121% price change over a 30-day period.
Stablecoins and Governance
DAI and MKR are interconnected as part of the MakerDAO project. DAI is a stablecoin pegged to a particular fiat currency, providing stability within the crypto market. MKR is used to pay transaction fees on the Maker system and collateralizes the system. MKR holders have voting rights within Maker's governance system, ensuring the system's good governance. Both tokens contribute to the decentralized and democratic structure of MakerDAO.
Volatility and Stablecoins
Both DAI and MKR aim to address the issue of volatility in cryptocurrencies. DAI serves as a stablecoin, maintaining its value through its pegged relationship to a fiat currency. MKR, on the other hand, provides stability and acts as a hedge currency in the crypto market. Despite being stable, stablecoins like DAI and Tether are not immune to economic principles like inflation. They provide stability within their respective ecosystems while being fully inspectable on the blockchain.