1233
2899
$213,425,059,685
$1,146,981,311
68%

MakerDAO


Reported

Category
Gambling
Platform
Ethereum
Smart Contracts
0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359

0x9b0ccf7c8994e19f39b2b4cf708e0a7df65fa8a3

0x448a5065aebb8e423f0896e6c5d525c040f59af3

0xbda109309f9fafa6dd6a9cb9f1df4085b27ee8ef

0x9b0f70df76165442ca6092939132bbaea77f2d7a

0xf53ad2c6851052a81b42133467480961b2321c09

0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2

0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2

The MakerDAO Collateralized Debt Position (CDP) is a smart contract which runs on the Ethereum blockchain. It is a core component of the Dai Stablecoin System whose purpose is to create Dai in exchange for collateral which it then holds in escrow until the borrowed Dai is returned.

CDPs alter the total supply of outstanding Dai, creating Dai when new assets are leveraged and destroying existing Dai when it is repaid to the position. This cycle of controlled minting and burning allows the contract to account for the total supply of the stablecoin, thus proving that the portfolio of backing collateral can always guarantee the value of circulating Dai.

The amount of collateral in a CDP is always set to be significantly higher than the amount of the debt, so stability seekers who wish to use Dai as a predictable store of value can be confident that 1 DAI is worth approximately 1 USD in underlying assets.

Join the community to learn more about Maker, chat with the team, and have your say in shaping the future of commerce on the blockchain.

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