Maker (Sky)
The protocol behind DAI. USDC is one of the largest collateral types backing DAI stablecoin.
Using USDC on Maker (Sky)
Maker (recently rebranded to Sky) is the DeFi protocol behind DAI, one of the largest decentralized stablecoins. USDC plays a significant role in the Maker ecosystem as one of the primary collateral types backing DAI. Users can deposit USDC into Maker's Peg Stability Module (PSM) to mint DAI at a near 1:1 rate, which helps maintain DAI's dollar peg. The protocol also offers the DAI Savings Rate (DSR), where DAI holders can earn yield. Maker operates entirely on Ethereum and is governed by MKR token holders through decentralized governance. It has been one of the most important protocols in DeFi since its launch in 2017.
Supported networks
Key features
- USDC as DAI collateral
- Peg Stability Module
- DAI Savings Rate (yield)
- Decentralized governance
- Operating since 2017
Other defi
Aave
The largest DeFi lending protocol. Deposit USDC to earn interest or use it as collateral to borrow.
Lending ProtocolCompound
Pioneer of DeFi lending. Simple, battle-tested protocol for earning interest on USDC.
Lending ProtocolMorpho
Lending optimizer that often offers better USDC rates than Aave or Compound by matching lenders directly with borrowers.
Ready to get started with USDC?
Check out our guides or explore more of the USDC ecosystem.