MakerDAO
Maker
The DAO that issues [[dai]] and (since the Endgame rebrand) [[usds]] — the longest-running decentralised stablecoin operator.
MakerDAO operates the Maker Vault system and the Peg Stability Module. Post-Endgame, the project rebranded to Sky; MKR became SKY (1:24,000 ratio), and a new USDS stablecoin was introduced alongside DAI with optional yield (sUSDS). Reserve mix is heavy on RWA T-bill pools.
Related terms
- DAIThe pioneering decentralised stablecoin, issued by MakerDAO via [[cdp]] vaults backed by ETH, RWA, and other collateral.
- USDSSky's post-Endgame stablecoin, 1:1 swappable with [[dai]], with sUSDS as the yield-bearing wrapper.
- SkyThe post-Endgame rebrand of MakerDAO — issuer of [[usds]] alongside continued [[dai]] support.
- RWA (real-world assets)Tokenised off-chain assets — Treasuries, money-market funds, credit pools, real estate — used as on-chain collateral or yield products.