---
title: MakerDAO
order: 3
hideLanguageSelector: true
keywords: "makerdao, maker, dai, stablecoin, ethereum"
description: "FAQs on MakerDAO."
---

# MakerDAO

## What is MakerDAO?

MakerDAO is a decentralized organization dedicated to bringing financial stability and transparency to the world economy. MakerDAO is the community behind the Maker Protocol, which enables the generation of [Dai](https://community-development.makerdao.com/makerdao-mcd-faqs/faqs/dai), the world’s leading decentralized stablecoin.

The Maker Protocol, the set of smart contracts that make Dai possible, is run by the decentralized governance community of MakerDAO. The Maker Protocol, as one of the largest decentralized applications (dapps) on the Ethereum blockchain, was the first decentralized finance (DeFi) application to earn significant adoption.

All Dai is backed by a surplus of collateral that has been locked into audited and publicly viewable Ethereum smart contracts. Anyone with an internet connection can monitor the health of the system anytime at [daistats.com](https://daistats.com/) or [through other third party tools](https://awesome.makerdao.com/#watch-dai).