MakerDAO is a “stablecoin” platform that allows users to lock up collateral (Ether) in exchange for a fixed price currency (Dai). The Maker token serves both a governance function.
Even with ETH falling from $1,400 to under $100 this year we certainly saw a test of what Maker could do. So far the peg has held around $1.00 even as the amount of Dai has ballooned to $60+ million. So what gives? As it turns out Maker is the perfect vehicle for on-chain speculation.
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