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Cryptocurrencies

Huobi supports MakerDAO tokens, decentralised apps

Wednesday 21 August 2019 | 10:27 AM CET

Cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralised apps (DApps) in its wallet.

MakerDAO has a stablecoin called Dai, a token named MKR, and applications including CPD Portal. The Maker project is a combination of its stablecoin, collateral loans, and community governance. MakerDAO is a type of decentralised autonomous organisation (DAO), which is managed solely by smart contracts and code, not human managers. A DAO is also operated by users via a consensus voting mechanism that aims to make changes in its management.

Huobi Group is adding wallet support for an autonomous protocol for finance DApps called Compound. The Huobi Wallet will support both its tokens and its DApp, which is designed for crypto lending.

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