MakerDAO is one of the first and largest decentralized lending protocols, often tagged as the central bank of crypto. It also issues the $6 billion stablecoin DAI, whose value is backed by some $8 billion assets in its reserve. The protocol is governed by a decentralized autonomous organization (DAO), where contributors manage the platform and discuss decision-making proposals in a forum, and owners of the platform’s governance token, maker (MKR), vote to approve or reject each proposal.
Source: https://www.coindesk.com/markets/2022/10/24/makerdao-members-support-founders-endgame-plan-to-break-up-into-metadaos-21b-of-transfers/?utm_medium=referral&utm_source=rss&utm_campaign=headlines