Maker
What is Maker?
Maker (MKR) is a utility andgovernance token based onEthereum that operates on the Maker smartcontract The Maker platform allows anyone to generate Dai by using Ethereum-based collateral, which the system holds until the equivalent amount of Dai is repaid. Additionally, Maker acts as a source of leverage and liquidity for the ERC20 exchange OasisDEX, providing both Maker and Dai alongside various other Ethereum tokens.
Understanding Maker
Maker holds great importance as it creates the decentralized stablecoin DAI, which is extensively used across the DeFi landscape.
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