Binance USD vs Steem Dollars vs Maker Token
What problem does this service solve?
Binance USD allows traders to convert US Dollars to a digital version without trading fees. | Steem Dollars are a stablecoin that are designed to be used as a less volatile medium of exchange on the Steem platform. | The Maker token is the native token of the MakerDAO platform. Its purpose is to help govern and stabilize the DAI stablecoin project. |
Token Stats
Company Description
Binance USD stablecoin is backed by US Dollars, and is issued in partnership by Binance and Paxos. The coin is approved by the New York State Department of Financial Services (NYDFS), and allows traders to convert US Dollars to a digital version without trading fees. | Steem Dollars, or Steem Based Dollars, are stablecoins released by the Steem platform and pegged to the USD. Steem Dollars (SBD) are one of the three currencies that help power the Steem social media platform. SBD holders are entitled to receive one dollars worth of STEEM when it is redeemed. | The Maker token (MKR) is the MakerDAO native token. It acts as a utility token, governance token and a recapitalization tool for the MakerDAO platform, which manages the DAI stablecoin. MKR is used as part of the stabilizing mechanism that is in place to combat the price volatility of the DAI stablecoin. |