What’s hot in crypto this week? 

Maker (MKR) is a governance token that underpins the first “stablecoin” on the cryptocurrency platform Ethereum, called DAI. Stablecoins such as DAI are a type of cryptocurrency that’s backed by reserve assets. Maker is on the protocol of MakerDAO, or the Maker Decentralized Autonomous Organization.

It used to be that to create this DAI stablecoin, users had to deposit cryptocurrency tokens ETH or BAT into a collateralized debt position, and received DAI in return. The system charges a “Stability Fee” to open up a collateralized debt position, which essentially works as an interest rate to control DAI supply and keep it at its $1 peg. 

(Excerpt) Read more Here | 2020-06-17 09:18:21
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