Maker Token vs BitBay vs bitCNY
What problem does this service solve?
The Maker token is the native token of the MakerDAO platform. Its purpose is to help govern and stabilize the DAI stablecoin project. | BitBay's goal is to create a stable cryptocurrency that is not pegged to another asset. | bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. |
Token Stats
Company Description
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. | BitBay is developing a decentralized marketplace based on a non-colateralized stablecoin. Unlike other stabelcoins, BitBay is stabilized with a dynamic peg that is meant to reduce volatility without anchoring the price to another asset. The network has a Proof-of-Stake (PoS) consensus mechanism. | bitCNY is a decentralized stablecoin that is pegged to the Chinese Yuan. It is based on the BitShares blockchain and has a Delegated Proof-of-Stake (dPoS) consensus mechanism. As a market pegged asset, the bitCNY token represents the amount of BitShares (BTS) that are equivalent to one Chinese Yuan. |