Glossary of Terms
What is Dai?
Why would I want to use Dai?
How is the price of Dai kept stable?
How can I generate Dai?
Where can I buy Dai?
Where can I see the amount of collateral that is backing Dai?
What organizations are using Dai?
What is the Dai Savings Rate?
How does the DSR work?
Are there any range limits to the DSR? Can it be negative or zero?
Does Dai automatically earn the DSR?
Is the DSR its own smart contract?
When users lock Dai into the DSR, is that Dai pooled?
Do DSR accruals compound or are they only earned on the principal?
What is the formula for the expected accruals earned through the DSR?
Will there be any constraints, like minimum lockup time or withdrawal limits?
Does Dai earned by the DSR get calculated and paid out at the time of withdrawal, or is it continuously added to the user’s balance?
How is the DSR being used by MKR token holders as a monetary policy tool?
Where can someone find information to better understand the economic impact of the DSR?
Does the DSR reduce the MKR burn rate?
Are Stability Fees structurally higher due to the existence of the DSR?
Where can I find more technical information about the DSR?
What is an Emergency Shutdown?
What happens during an Emergency Shutdown?
Who can initiate Emergency Shutdown?
When should Emergency Shutdown be used?
Does hitting a Debt Ceiling warrant an Emergency Shutdown?
Will the redemption of collateral for Vaults and Dai be immediate and automatic, or a manual process?
Why is there a delay period before Dai holders can redeem collateral?
Do both Dai holders and Vault owners need to redeem collateral?
If collateral prices keep falling after the reference prices are frozen, doesn’t that mean people redeeming Dai and closing-out Vaults may experience a haircut?
How quickly can an Emergency Shutdown be performed?
What happens to MakerDAO after an Emergency Shutdown?
Who can redeploy the system?
Who decides how the system should be redeployed?
What if multiple redeployments happen, who decides which one is legitimate?
During Emergency Shutdown, will Vault owner’s collateral be given away to other people?
Is there anything preventing MKR holders from triggering an Emergency Shutdown in order to avoid MKR dilution due to poor management?
Can I create a Vault during an Emergency Shutdown?
What happens to inaccessible Vaults and Dai?
Are Stability Fees waived in the event of an Emergency Shutdown?
How does Emergency Shutdown affect other Dapps?
Has an Emergency Shutdown ever been performed in the past?
How was testing for Emergency Shutdown done?
How will Vault users and Dai holders be notified of Emergency Shutdown?
Where can I find more technical information about Emergency Shutdown?
What is Governance?
How is the Maker Protocol governed?
Is there more than one type of vote?
What does a forum signal thread look like?
Can anyone start a forum signal thread?
What’s the difference between a forum signal thread and a regular forum poll?
How does a forum signal thread proceed to an on-chain Governance Poll?
When do Governance Polls happen?
How long is the voting period of a Governance Poll?
Where can I find on-chain Governance Polls?
Can anyone create an on-chain Governance Poll?
When do Executive Votes Happen?
What is Continuous Approval Voting?
Why is the Continuous Approval Voting System necessary?
How Long is the Voting Period of an Executive Vote?
Can anyone start an Executive Vote?
Does anyone audit the code for the Executive Votes?
What are hats, slates, and spells?
How do MKR holders stay informed of governance issues?
What do MKR holders vote on?
How can I vote off-chain?
How can I vote on-chain?
How does the Maker Foundation’s Voting Portal work?
What is a Voting Contract?
How do I know my vote was placed?
If a vote has already started can I still participate?
Can I change my vote once I have placed it?
How is the voting calculated?
What are the different ways to set up the Voting Contract?
What does voting with a linked wallet do for me?
When setting up a linked wallet, what permissions am I granting?
Does it cost gas every time I vote?
When setting up a linked wallet, how much gas will I need and which wallet does it come from?
What are IOU Tokens?
When setting up a linked wallet, how many transactions do I have to sign?
When setting up a single wallet, how many transactions do I have to sign?
What happens to my MKR when I am voting?
How do I know my MKR is in the Voting Contract?
How do I withdraw my MKR from the voting contract?
How does a withdrawal affect my previous votes?
Do I need to withdraw MKR from the voting contract immediately after voting?
Can I send MKR from my cold wallet to another address while it is locked in the voting contract?
What happens if I send more MKR to my cold wallet after I link it?
Can I break the link between my hot and cold wallet?
Can I combine more than one address holding MKR to vote?
How are proposals created?
Where can I find more technical information about the Maker Protocol Governance mechanism?
What is Liquidation?
Why does Liquidation exist?
Who triggers Liquidation?
What is the Liquidation Ratio?
What is the Liquidation Price?
What is the Liquidation Penalty?
Why is the Liquidation Penalty necessary?
What happens during a Liquidation?
How much collateral is left after a Liquidation?
How do I calculate my Liquidation Price?
How do I calculate my Collateralization Ratio?
How do I lower my Liquidation Price?
What are typical practices to avoid getting Liquidated?
How would a flash crash affect the Liquidation of Vaults?
Where can I view live information about Liquidations?
Where can I find more technical information about Liquidations?
What is MakerDAO?
Who Started MakerDAO and When?
Why did the founders call it _Maker_DAO?
What does DAO mean?
Who is the Maker Community?
What is the Maker Foundation, and how does it relate to MakerDAO?
Does the Foundation Vote in MakerDAO Governance?
Will the Maker Foundation exist indefinitely?
What are the primary focuses of the Maker Foundation?
Where does The Maker Foundation get funding from?
Who controls the Development Fund?
What are the plans for the Development Fund?
Is MKR in the Development Fund used to vote in Maker Governance?
What is the legal structure of The Maker Foundation?
How do I distinguish between the DAO and the team who is developing and bootstrapping MakerDAO?
What is the Dai Foundation?
Who is on the Board of Trustees of the Dai Foundation?
What is MKR?
What is the MKR token used for?
How are MKR tokens created or destroyed?
What responsibilities do MKR holders have?
What voting rights do MKR holders have?
What addresses hold the most MKR?
Can MKR be used as a collateral type?
Will MKR token dilution be able to cover all Dai if the value of their backing collateral goes to zero?
How do I redeem old MKR?
What happens to MKR in the event of an Emergency Shutdown?
How much MKR is there?
What is an Oracle?
How does the Oracle system work?
How is the Oracle system made secure?
What is an Oracle Security Module?
Can MakerDAO governance change the time of the Oracle Security Module’s delay?
What is a Medianizer?
How often does the Medianizer publish an updated reference price?
What is a Secure Scuttlebut Network?
Why are Oracles an attack target for malicious actors?
Who are the Feeds?
Why are organizational Feeds public, while individual Feeds are pseudonymous?
What is the process for becoming a Feed?
Is the Oracle system resistant to Sybil attacks?
What happens if there is a flash crash on an exchange?
Where can I find more technical information about Oracles?
What is the Stability Fee?
What is the purpose of the Stability Fee?
When do I have to pay the Stability Fee?
Do I have to pay the new fees on old debt in the case of a Stability Fee change?
Why does the Stability Fee Change?
How is the Stability Fee calculated?
What does the system do with the collected fees?
Where can I see my currently accrued Stability Fee?
How can I calculate my potential Stability Fee?
Where can I learn more about Risk Teams and how Stability Fees are determined?
Is there a limit to how much a Stability Fee can change?
How often do Stability Fees change?
Where can I find more technical information about Stability Fees?
What are Maker Vaults?
How does a Vault work?
What is a Debt Ceiling?
Are there different types of Vaults?
What kind of collateral can I use?
Who can open a Vault?
Are there fees for using a Vault?
What is the Collateralization Ratio?
What risks are associated with owning a Vault?
What are Common Practices to limit risk?
How would a flash crash on a single exchange affect the Liquidation of Vaults?
Where can I find more technical information about Vaults?