Steem Dollars vs bitCNY vs Maker Token
What problem does this service solve?
Steem Dollars are a stablecoin that are designed to be used as a less volatile medium of exchange on the Steem platform. | bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. | 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
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. | 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. | 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. |