Maker is an Ethereum based lending platform responsible for the creation of DAI, the world’s first decentralised ‘Stable Coin’ soft pegged to 1 USD.
Maker allows any user to autonomously take out a loan (denominated inDAI) by staking Ether (ETH) as collateral. Other Ethereum based tokens can also be staked as collateral.
The Maker system is inherently permission-less , meaning that there are no requirements other than holding crypto currency or buying DAI to get started.
All loans are issued automatically by a smart contract so no human is involved in the facilitation of any loan.