This article was first published on Stories by MakerDAO on Medium
From the very beginning, the Maker project has been focused on creating a more inclusive and transparent global economy. Over the past year, Dai has proven the viability of a decentralized, asset-backed stablecoin. Dai has successfully maintained its $1 USD peg in an exceptionally volatile market, hundreds of integration partners have joined our community and started to build Dai into their projects and volumes have steadily grown (almost $75MM in circulation at last count).
In that time, the organization tasked with bootstrapping the Dai Credit System, the Maker Foundation, has progressed MakerDAO down the path toward decentralization. From proposing foundation principles to onboarding partners to navigating the MKR holders’ governance over the first votes on stability fees and debt ceilings, the Foundation has been tirelessly building a decentralized ecosystem that is critical to the long-term strength and growth of the organization.
As Multi-Collateral Dai moves from the Kovan testnet to mainnet, it’s time for the Maker Foundation to continue evolving to support a fully decentralized and independent Dai.
First, let’s start by clarifying some terms:
The Maker Community is the wide world of people and organizations that use or support Dai. In short, the Maker Community IS MakerDAO. From early adopters to Maker Foundation Employees to MKR holders, the Maker Community is an indispensable and critical part of the Maker system. Dai and Maker fundamentally cannot exist without the diligent and direct governance by the entire community and as a result, the community is the most critical component of Makers success.
MKR Holders are a group of individuals and entities that collectively manage and are responsible for the governance of the Dai Credit System. They exert control through voting rights that come with the MKR token and meet through various forums to discuss and debate everything from collateral types to Emergency Shutdown. Their ...
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Stories by MakerDAO on Medium