MakerDAO

MakerDAO is a decentralized and permissionless lending platform that allows users to borrow its USD pegged stablecoin, called Dai, against their token assets and to achieve price stability in crypto, creating an opportunity to interact with decentralized applications without experiencing the volatility of the overall cryptocurrency market. The lending platform is managed by a set of smart contracts instead of a bank, allowing for greatly reduced interest rates and better global liquidity.