a16z: Crypto Applications
Lending and Interest
(Compound, Maker)
Many different business models here
for decentralized lending (has API,
works across borders, works 24/7,
no limits, etc).
Ⓒ2020 Andreessen Horowitz. All rights reserved worldwide.
Compound
MARKETS CTOKENS
The Compound protocol currently has
$170,882,903 of assets earning interest
across 8 markets
Compound is an algorithmic, autonomous interest rate
protocol built for developers, to unlock a universe of
open financial applications.
READ WHITEPAPER →
DEVELOPERS
MCD Docs
Introduction to the Maker
Protocol
GETTING STARTED
Maker Protocol 101
MAKER DEVELOPER GUIDES
Developer Guides and Tutorials
SMART CONTRACT MODULES
Core Module
Collateral Module
Dai Module
System Stabilizer Module
Oracle Module
MKR Module
Governance Module
Rates Module
Proxy Module
Emergency Shutdown Module
Maker Protocol Emergency
Shutdown
MIGRATION
APP
SCD MCD Migration
Upgrading to Multi-Collateral Dai
Guide
OTHER MCD DOCUMENTATION
MCD Glossaries
Smart Contract Annotations
AUCTIONS
The Auctions of the Maker
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Q
Introduction to the Maker Protocol
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:
• New Dai token ($DAI)
• Support for multiple Vault collateral types (Launching with ETH and BAT)
To open a Vault, head to Oasis Borrow
Savings Rate (DSR)
Dai
• To use the DSR, head to Oasis Save
• More robust peg ensuring mechanisms (MKR acting as backstop)
• Stability fees paid every block, rather than on Dai repayment
• New Maker Terminology
• MKR and governance remains the same
• Oasis Trade
The Maker Protocol Smart Contract Modules System
Any Andreessen Horowitz investments and portfolio companies described or referred to above are not representative of all investments in vehicles managed by the firm
and there can be no assurance that the investments described are or will be profitable or that other investments made in the future will have similar character or results.
See Important Disclosures at the outset for more information
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