Welcome, Banclist Nations, to this very special episode.

Today, we are talking all about MakerDow and the bullcase behind MakerDow.

You guys all know MakerDow.

It's the organization.

It's the, uh, the Dow behind the die stablecoin, the first ever trustless stablecoin that crypto has ever seen.

But I'll ask the listeners, do you really know MakerDow?

Have you really been paying attention to what's going on behind the scenes?

Because of my mind, from my understanding, is a Dow like none other?

And MakerDow has made fundamentally different choices, less about different smart contract design choices,

but more about how the Dow operates, how the Dow is organized, and what is going on behind the scenes.

I've been a long supporter of MakerDow.

Before I started writing about Ethereum, I started writing about MakerDow first.

So I've been very close with the team and organization behind MakerDow.

They have been an organization since 2016, and has blossomed and grown since then.

It really started very emergently.

People that were just interested in figuring out how to produce a decentralized stablecoin all came together.

This was before DeFi was a thing. This was before the ICO boom.

MKR, the MKR token was minted and distributed to early stakeholders.

And a treasury of MKR was maintained, kind of as you see in the current Dow landscape.

But again, this was in 2015 and 2016.

Then the Maker organization realized that they really needed to have real world footprint.

They needed a centralized foundation.

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