Maker Dao are about Digital Currency which can be used by anyone, anywhere, anytime. They claim to be the unbiased currency which does not discriminate. Thus, any business or individual will be able to realize the advantages of digital money.
Sydney Ifergan, the crypto expert tweeted: “Maker Dao helps generating Dai on your own terms and this happens instantly. This is beautiful about Financial Freedom with Multi-Collateral Dai (MCD).”
The Maker Foundation Interim Risk Team have now placed a series of Governance Polls into their voting system which presents the polls to bring in adjustments to the Base Rate and PAXUSD Debt Ceiling. The current voting is for several Base Rate Options.
Maker Dao publishes, “This weekly Governance Poll will be active for three days beginning on Monday, September 28 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on October 2 at 16:00 UTC.”
Those who are voting might want to take help from the Voting Onboarding Guide and also they need to check in to the FAQ to understand what is Governance, how the Maker Protocol is governed and a range of other stuff.
Maker Dao (MKR) Decentralized Governance
MKR token holders feel powerful due to decentralized governance and also due to the smart contracts which power Dai. For those who do not know, Maker Protocol is built on Ethereum Blockchain. And, they have been known to be the first kind of DeFi application to earn significant adoption on the Ethereum blockchain.
Notably, more than 400 apps and services have integrated Dai, which includes the wallets, DeFi platforms and also the gaming apps.
Anyone new to Make Dai need to understand the elements like Dai stablecoin, Maker Collateral Vaults, Oracles, and Voting.
The Original Dai is now Sai. It is possible for anyone to generate Dai by making use of the system by leveraging Ethereum (ETH) in collateral by way of unique smart contracts. These unique smart contracts are known as “Collateralized Debt Positions.”
It is important to understand the Single Collateral Dai (SCD), which can be created only with Ethereum as the collateral asset. There is also a system to provide support for Multiple Collateral asset types. Therefore, assets apart from ETH can also be used.
The Dai Stable Coin System known as the Maker Protocol will now be able to accept as a collateral any kind of Ethereum-based asset which has been approved by the MKR holders. The MKR holders will be voting on the corresponding risk parameters for every type of collateral asset. Thus, voting is a very critical process in the Maker Decentralized Governance Process.