Decentralised Finance has exploded as an industry, with a key pillar in the space is stablecoins. However, many are concerned with the issuance and control of these coins lying with centralised private companies like Circle or Tether.
Dai, the Ethereum-based stablecoin issued by MakerDAO, has subsequently risen in popularity and is now a prominent player in the space entirely executed by the Maker protocol.
However, the MakerDAO as an organisation extends beyond just the issuance of Dai, and now provides several financial services functions including savings and borrowing services for DeFi participants. All of these areas require immensely complicated interventions and controls in a new unregulated space with little precedent, and so MakerDAO will hope that targeting these difficult areas will set them aside in an otherwise crowded industry.
Freddie
Company Specialist at Welcome to the Jungle