A popular vault in the cryptosphere, MakerDao enables users to deposit funds into a vault to generate DAI, a stable coin. These vaults may be used to deposit collateral for loans to be taken out.

Opening a vault on MakerDao is free, but users should be aware that they will incur gas fees for processing transactions along with a “stability fee,” a variable annual rate added to any debt. Since MakerDao generates DAI on the blockchain, users can readily audit the amount of DAI that is circulating and the collateral that’s backing it.

(Excerpt) Read more Here | 2021-08-23 02:18:12
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