Glossary
MakerDAO
The DAO behind DAI — the first crypto-collateralized decentralized stablecoin — now rebranded as Sky with the USDS stablecoin and a multi-protocol roadmap.
MakerDAO has issued DAI since 2017, originally collateralized by ETH and later by a basket including USDC and tokenized Treasuries. The DAO governs every parameter — accepted collateral, stability fees, the Dai Savings Rate — via on-chain MKR voting.
In 2024 Maker rebranded to "Sky", launching USDS as a successor stablecoin (one-to-one convertible with DAI) and a longer-term "Endgame" roadmap that splits the protocol into sub-DAOs.