Maker Protocol Technical Docs
  • MakerDAO Technical Docs
  • Getting Started
    • Maker Protocol 101
  • Smart Contract Modules
    • Dai Module
      • Dai - Detailed Documentation
    • Core Module
      • Vat - Detailed Documentation
      • Spot - Detailed Documentation
    • Collateral Module
      • Join - Detailed Documentation
    • Liquidation 2.0 Module
    • System Stabilizer Module
      • Flapper - Detailed Documentation
      • Flopper - Detailed Documentation
      • Vow - Detailed Documentation
    • Oracle Module
      • Oracle Security Module (OSM) - Detailed Documentation
      • Median - Detailed Documentation
    • MKR Module
    • Governance Module
      • Spell - Detailed Documentation
      • Pause - Detailed Documentation
      • Chief - Detailed Documentation
    • Rates Module
      • Pot - Detailed Documentation
      • Jug - Detailed Documentation
    • Proxy Module
      • Proxy Actions - Detailed Documentation
      • Vote Proxy - Detailed Documentation
      • CDP Manager - Detailed Documentation
      • DSR Manager - Detailed Documentation
    • Flash Mint Module
    • Maker Protocol Emergency Shutdown
      • Emergency Shutdown for Partners
      • The Emergency Shutdown Process for Multi-Collateral Dai (MCD)
      • End - Detailed Documentation
      • ESM - Detailed Documentation
  • Glossary
    • MCD Glossaries
    • Smart Contract Annotations
  • Deployment Addresses
    • Maker Protocol Deployments
  • Security
    • Security for the Maker Protocol
  • Building on top of the Maker Protocol
    • Developer Guides and Tutorials
    • The Dai Javascript Library of the Maker Protocol
      • Getting started
      • Configuration
        • Plugins
      • Vault manager
      • Collateral types
      • Dai Savings Rate
      • Currency units
      • System data
      • Advanced
        • Transaction manager
        • DSProxy
        • Events
        • Using multiple accounts
        • Adding a new service
      • Single-Collateral Sai
        • Collateralized Debt Position
        • CDP Service
        • Price Service
        • System Status
        • Tokens
        • Token Conversion
        • Exchange Service
    • Pymaker
  • Keepers
    • The Auctions of the Maker Protocol
    • Auction Keepers
      • Auction Keeper Bot Setup Guide
    • Market Maker Keepers
      • Market Maker Keeper Bot Setup Guide
    • Cage Keeper
    • Simple Arbitrage Keeper
    • Chief Keeper
  • Command-line Interfaces
    • Seth
    • Multi Collateral Dai (MCD) CLI
    • Dai and Collateral Redemption during Emergency Shutdown
    • Emergency Shutdown (ES) CLI
  • Miscellaneous
    • Liquidations 1.2 System (Deprecated)
      • Cat - Detailed Documentation
      • Flipper - Detailed Documentation
    • SCD <> MCD Migration
    • Upgrading to Multi-Collateral Dai Guide
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  • MakerDAO Documentation Overview
  • Introduction
  • The Maker Protocol Smart Contract Modules System
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MakerDAO Technical Docs

The Maker Protocol is the platform through which anyone, anywhere can generate the Dai stablecoin against crypto collateral assets. Learn how it works.

NextMaker Protocol 101

Last updated 2 years ago

MakerDAO Documentation Overview

  • @ MakerDAO.world

  • @ manual.makerdao.com

  • @ docs.makerdao.com ← You are here

  • @ collateral.makerdao.com

  • @ mips.makerdao.com

Introduction

MakerDAO is a decentralized organization dedicated to bringing stability to the cryptocurrency economy. The Maker Protocol employs a two-token system. The first being, Dai, a collateral-backed stablecoin that offers stability. The Maker Foundation and the MakerDAO community believe that a decentralized stablecoin is required to have any business or individual realize the advantages of digital money. Second, there is MKR, a governance token that is used by stakeholders to maintain the system and manage Dai. MKR token holders are the decision-makers of the Maker Protocol, supported by the larger public community and various other external parties.

Maker is unlocking the power of decentralized finance for everyone by creating an inclusive platform for economic empowerment; enabling everyone with equal access to the global financial marketplace.

With the new version of the Maker Protocol, Multi Collateral Dai (MCD), being released and live on the main Ethereum network, we wanted to go over a few of the changes and features that it comes with. The biggest change to the Maker Protocol is that it now accepts any Ethereum-based asset as collateral to generate Dai given that it has been approved by MKR holders and has been given specific, corresponding Risk Parameters through the Maker decentralized governance process.

Additionally, there are a few other newly introduced features that come with the MCD upgrade. These new features include:

  • Support for multiple Vault collateral types (Launching with ETH and BAT)

    • To open a Vault, head to

    • To use the DSR, head to

  • More robust peg ensuring mechanisms (MKR acting as backstop)

  • Stability fees paid every block, rather than on Dai repayment

  • MKR and governance remains the same

The Maker Protocol Smart Contract Modules System

Introductory
Governance
Technical
Collateral Onboarding
MIPs Portal
New Dai token ($DAI)
Oasis Borrow
Dai Savings Rate (DSR)
Oasis Earn
New Maker Terminology
Oasis Trade
The Maker Protocol System Diagram