Paxos vs Maker Token vs Multi-Collateral DAI
What problem does this service solve?
Paxos provides a variety of financial trust and custodial services for clients that want to take advantage of the benefits of blockchain, while remaining compliant with legal and regulatory frameworks. | The Maker token is the native token of the MakerDAO platform. Its purpose is to help govern and stabilize the DAI stablecoin project. | Multi-Collateral DAI is designed to enable the MakerDAO to offer new types of asset collateral and DeFI services. |
Token Stats
Company Description
Paxos is a regulated financial company specializing in providing blockchain trust and custodial services for their clients. Paxos' settlement platform (Bankchain) is designed to be integrated with existing systems and to eliminate settlement risk in the exchange of digital assets. The company created a USD backed stablecoin called PAX, that is built on the Ethereum blockchain, and is meant to assist their clients in converting a variety of assets into digital versions, that can be more easily exchanged on a blockchain. | 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. | The Multi-Collateral DAI stablecoin uses multiple types of collateral to back its value and an interest rate mechanism to stabilize its price. It is designed to be a digital currency with a stable value. MakerDAO is the decentralized autonomous organization that manages DAI and works to combat its price volatility. Multi-Collateral DAI was launched in November, 2019 and is meant to be a successor to the Single-Collateral DAI, that will eventually be phased out. The new stablecoin will enable new features to the Maker Protocol, such as the the Dai Savings Rate (DSR), as well as additional types of asset collateral. |