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This article employs discounted cash flow (DCF) analysis to reasonably estimate the value of the $MKR token.

The author argues that the term “Crypto” has lost its meaning because it no longer refers to a specific asset class. For example, the MKR token exhibits both stock-like and fixed-income characteristics, and the DAI token also has fixed-income characteristics. Therefore, categorizing assets as stocks, fixed income, and “Crypto” is meaningless. “Crypto” is merely a database technology rather than an asset class. Hence, the best approach is to completely abandon this term.

Established as one of the earliest DAOs on Ethereum, MakerDAO introduced the decentralized stablecoin, DAI. By instituting a system that eliminates centralized custodial risks, it has revolutionized the DeFi arena. This article offers a comprehensive exploration of MakerDAO's early history, key mechanisms, security features, and its present governance landscape.

With MakerDAO's rebranding to Sky Protocol, discussions about this pioneering platform have resurfaced. MakerDAO is a decentralized, liquid, and composable cryptocurrency protocol that offers lending services through its stablecoin, DAI. This article will delve into the nature of MakerDAO and examine how this innovative protocol operates.

MakerDAO is a decentralized autonomous organization with a collateralized stablecoin DAI that makes DeFi lending and borrowing possible.

Explore the key differences between Automated Market Maker (AMM) and Central Limit Order Book (CLOB) trading models in decentralized exchanges (DEXs). This comprehensive comparison delves into their principles, advantages, disadvantages, pricing mechanisms, liquidity provision, and user experiences. Understand how these models shape the DeFi landscape, from Uniswap's dominance to emerging innovations in concentrated liquidity and market-making algorithms.

Stablecoins are digital currencies pegged to real-world assets or algorithmically adjusted to maintain a stable value with minimal price fluctuations. While centralized stablecoins like USDC and USDT are pegged to fiat currencies, they face credit and trust risks but have the potential to become significant mediums of exchange for digital assets. Various stablecoin solutions already exist, and more promising ones may emerge in the future.

DAI is a decentralized stablecoin built through a smart contract on the Ethereum Blockchain. It aims to maintain a stable 1: 1 value against the US dollar.

Gate Research Daily Report: On August 28, over the past 24 hours, Bitcoin's price dropped by 5.85%, accompanied by a surge in trading volume. The U.S. Bitcoin and Ethereum spot ETFs saw net outflows of $127 million and $34.5 million, respectively, reflecting a pessimistic market sentiment. Altcoins broadly declined, particularly in the BTC Ordinals and modular blockchain sectors. The TON network experienced an outage due to excessive DOGS token trading, prompting several exchanges to suspend related services. MakerDAO rebranded to Sky and introduced the USDS stablecoin along with the SKY governance token. Additionally, seven projects raised a total of $52.57 million, focusing on DeFi, AI, and zero-knowledge proof technologies.

This article begins by dissecting the operational principles of lending protocols and CDP (Collateralized Debt Position) protocols through Justlend and MakerDAO, respectively. It then uses DYDX to illustrate the significance of protocol risk management.

Tokenomics is a crypto term that encompasses the factors that affect the use and value of a token. The term is a crucial factor for considering the potential success of a crypto project.

It's important for investors to be aware that the assets within the Ethereum ecosystem are far from uniform. Tokens can vary significantly in their use case, supply inflation, historical volatility, and mechanisms for value accrual.

As a veteran DeFi star project, MakerDAO has proposed the "Endgame Plan" concept with the goal of restructuring its asset business within the next decade to achieve complete decentralization of DAI. This article provides a brief introduction to MakerDAO's mechanism, elaborates on the "Endgame Plan," and delves into the protocol's ecosystem business changes and current financial situation.

Founded in 2023, bitSmiley is a Bitcoin-native DeFi project and the first stablecoin project in the Bitcoin DeFi ecosystem, often referred to as the "Compound + MakerDAO" for Bitcoin.

This article provides a detailed overview of the eight forms of DAOs and their characteristics.