Compliance Profile of MakerDAO/Sky (MKR / DAI)
🔑 Key Company Data
| Field | Details |
|---|---|
| Trading Name | MakerDAO |
| Legal Entity | Maker Foundation (now dissolved), replaced by full DAO decentralization |
| Activities | Issuance of DAI stablecoin, decentralized lending protocol |
| Location | Originally Cayman Islands; now globally decentralized |
| Regulations | Unlicensed; operates via DAO smart contracts |
| Key People | Rune Christensen (Founder, prominent DAO leader) |
| Latest News | Maker Endgame restructuring, move toward “NewChain” blockchain |
| Latest Update | April 2025 |
| PCI DSS Level | Not applicable – no cardholder data processed |
📦 Offering Overview
MakerDAO operates the DAI stablecoin system, maintaining a decentralized and overcollateralized dollar-pegged token. It enables users to mint DAI by depositing crypto assets into smart contract-based vaults. Governance of MakerDAO is entirely community-driven through MKR token voting.
⚖️ Legal & Regulatory
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Jurisdiction: Decentralized; previously Cayman Islands (Foundation dissolved in 2021)
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Licenses: None – operates outside traditional regulatory frameworks
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Regulatory Exposure: Medium-High risk due to DAI’s status as a dollar-pegged stablecoin in the current U.S. regulatory climate
🔐 Security & Audit Profile
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Auditors: Trail of Bits, Quantstamp, Runtime Verification
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Bug Bounty: Active via Immunefi
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Smart Contract Risk: Medium-Low – long-term proven, though governance attacks are a concern
👥 Due Diligence on Key People
Rune Christensen – Founder
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Background: Danish entrepreneur, political science and biochemistry education
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Role: Leading vision behind Maker Endgame and NewChain plans
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Public Activity: Highly visible, active in governance discussions (LinkedIn Profile)
🌍 Reputation & Transparency
| Category | Score | Notes |
|---|---|---|
| Public Trust | High | One of DeFi’s oldest, most respected DAOs |
| Community Standing | High | Active forums, proposal governance |
| Media Presence | High | Frequently cited in stablecoin regulation debates |
| Customer Support | Limited | No centralized support; handled via community (Maker Forum) |
✅ RatEx42 Trust & Risk Score
| Metric | Rating | Color | Notes |
|---|---|---|---|
| Legal Structure | Dissolved Foundation / DAO | 🟠 Orange | Full DAO operation now, no entity |
| Regulatory Oversight | Absent | 🔴 Red | Stablecoins facing increasing global regulation |
| Technical Security | Strong | 🟢 Green | Smart contracts heavily audited |
| PCI DSS Scope | Not applicable | ⚫ Black | No card or fiat payment processing |
| Online Reputation | Excellent | 🟢 Green | Highly respected DeFi protocol |
| Transparency | High | 🟢 Green | Open governance, public voting, full proposal history |
| Customer Support | Moderate | 🟠 Orange | Peer-to-peer support only |
🧠 Conclusion
MakerDAO remains a pillar of decentralized finance, with the DAI stablecoin being one of the most recognized decentralized assets.
However, the dissolution of its formal foundation and the ongoing regulatory pressure on stablecoins worldwide introduce higher risks than for pure DeFi infrastructure protocols.
Technically and reputationally, Maker remains elite, but legally it operates in a more dangerous gray zone.
Final RatEx42 Rating: 🟠 7.8 / 10 – “Established, but Increasingly Risk-Exposed”
