What is the Maker DAO? MakerDAO is an open-source project on the Ethereum blockchain and a Decentralized Autonomous Organization1 created in 2014. The project is managed by people around the world who hold its governance token

What is the Maker Protocol? The Maker Protocol is one of the largest dapps on the Ethereum blockchain. Designed by a disparate group of contributors, including developers within the Maker Foundation, its outside partners, and other persons and entities.

Use of the MKR Token in Maker Governance The MKR token—the governance token of the Maker Protocol—allows those who hold it to vote on changes to the Maker Protocol. Note that anyone, not only MKR holders, can submit proposals for an MKR vote.

Polling and Executive Voting the Maker Governance process includes proposal polling and Executive Voting. Proposal polling is conducted to establish a rough consensus of community sentiment before any Executive Votes are cast.

MKR Holder Responsibilitie – Add a new collateral asset type with a unique set of Risk Parameters. – Change the Risk Parameters of one or more existing collateral asset types, or add new Risk Parameters to one or more existing collateral asset types.

- Modify the Dai Savings Rate. – Choose the set of Oracle Feeds. - Choose the set of Emergency Oracles. – Trigger Emergency Shutdown. – Upgrade the system.