MakerDAO is anEthereum-based decentralized autonomous organization and smart contractsystem,providing the first decentralized stable currency, Dai which is a hardcurrencywith a digital asset pledge endorsement and pegged to dollar in a ratio of 1:1.MKR is a managed and utility token for the Maker system, being used to payforthe stable cost of borrowing Dai and to participate in the managementsystem.
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