🏛️ MakerDAO Internals

MakerDAO is the protocol behind DAI, the largest decentralized stablecoin. Users deposit collateral (ETH, WBTC, etc.) into Vaults to mint DAI. The system maintains DAI's $1 peg through liquidation mechanisms, stability fees, and the DAI Savings Rate (DSR).

✦ Live

CDPs & DAI Minting

Deposit collateral, mint DAI — how Maker creates decentralized stablecoins

Coming soon

Liquidation Auctions

When vaults go underwater — Dutch auctions, keepers, and bad debt