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Maker Protocol
The Maker Protocol is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. It is primarily designed to enable the creation and management of the stablecoin called Dai (DAI), aiming for a 1:1 peg with the U.S. dollar.
The Maker Protocol functions through a system of smart contracts and autonomous feedback mechanisms to maintain the stability of Dai. By allowing users to generate Dai loans against their collateral, it provides a decentralized and permissionless way to access a stable cryptocurrency without the need for traditional banking intermediaries.