The Dai stablecoin is managed by the Maker Protocol, which uses Maker as its governance token.  A Decentralized Autonomous Organization, or DAO, called MakerDAO provided the initial description of Maker in a whitepaper in 2017. Dai, a stablecoin with cryptographic collateral, and the Maker Protocol, the platform for Dai's smart contracts, were created by MakerDAO. Holders of Maker have the option to take part in the Maker Protocol's scientific management. Holders can manage the financial risks of Dai by casting a vote on revisions to the Maker Protocol. Maker (MKR) is an Ethereum-based cryptocurrency that adheres to the ERC20 token standard. In addition to other issues, its holders have the option to vote on New Collateral, Collateral Risk Parameters, Stability Fee, and Dai Savings Rate. New collateral is modifying the Maker Protocol to accept a new asset for the purposes of creating and collateralizing Dai.   The risk factors on an asset that has already been approved by the Maker Protocol as collateral for Dai are being added to or changed by Collateral Risk Parameters. The Stability Fee is c hanging the adjustable interest rate that users who borrow Dai are charged. The fluctuating interest rate that Dai holders who deposit their Dai into the Dai Savings Rate contract are paid may increase or decrease.

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