MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum, providing the first decentralized stable currency on Ethereum. DAI is a hard currency with digital asset mortgage endorsement, which is 1:1 anchored to the US dollar. MKR is a management token and utility token of the Maker system, used to pay stable fees for borrowing Dai and participate in the management system. Unlike Dai's stable currency, the value of MKR is closely related to the performance of the entire system due to its unique supply mechanism and role on the Maker platform. Decentralized stable currency Dai has key applications in mortgage loans, leveraged trading, hedging, international remittances, supply chain, and government open accounting.