Maker
Builders of Dai, a digital currency that can be used by anyone, anywhere, anytime.
Builders of Dai, a digital currency that can be used by anyone, anywhere, anytime.
As part of the Endgame plan, MakerDAO rebranded to Sky, launching a new upgradeable stablecoin USDS and governance token SKY, with DAI and MKR optionally convertible into them.
MakerDAO declared itself fully self-sufficient, with the Maker Foundation set to formally dissolve within the following months as governance transferred fully to the community.
During the March 12 Ethereum price crash and network congestion, flaws in Maker's auction system let bots win liquidated collateral for 0 DAI, leaving the protocol with several million dollars of bad debt and later triggering a class-action lawsuit.
MakerDAO activated Multi-Collateral Dai, replacing Single-Collateral Dai and allowing loans to be backed by multiple collateral types (initially ETH and BAT) and introducing the Dai Savings Rate.
Andreessen Horowitz's crypto fund purchased 6% of the total MKR token supply for $15 million, gaining a governance stake in the Dai Credit System.
MakerDAO officially deployed its first decentralized stablecoin, Dai (later called Sai/SCD), on Ethereum after roughly two and a half years of development.
Danish entrepreneur Rune Christensen founded MakerDAO (with co-founder Nikolai Mushegian) to build a stable, collateralized cryptocurrency, initially exploring the concept after the 2014 Mt. Gox collapse.
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