1 Level
6 Review
12 Karma
Review on Maker by Truong Huynh
Maker is completely transparent about development of its blockchain project…
Maker is completely transparent about development of its blockchain project. MakerDAO creates DAI using CDP smart contracts to collateralize the assets. This means it’s backed by ETH instead of fiat currency, and the CDPs ensure there’s always enough ETH assets on hand to cover the DAI supply. Essentially, CDP contracts hold ETH, and if a black swan event occurs, such as ETH crashing before anyone has a chance to react, MKR is liquidated on the open market to cover the losses.
Pros
- Maker (MKR) is a digita currency (Token) for its platform. Its run on Ethereum network.Maker (MKR) is very interesting platform that provides alot of benefit/valuable project, such as their basis of a simple banking system built on blockchain technology that allows international peer to peer transactions.The project contains a revolutionary idea to replace the current currency system and introduce a currency system with less friction and higher security.
Cons
- Focus on community building and marketing to attract investors. Need more information and to a degree the participants can be more easily understood.
