Converti Maker MKR in Sway Protocol SWAY

Maker is an Ethereum token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.

Sway Social is the first social protocol for Metacreators that uses NFTs to translate social capital into an asset class. This allows anyone to monetize their Metaverse on their terms. Every building block in Metaverse — game item, avatar, collectible, social media post, land title, etc. — is an NFT. Behind every NFT creator is a community that establishes the value of creator's social capital. In traditional Web 2 social media platforms, the number of ‘Likes’ or ‘Followers’ is directly correlated to their earnings power. Creator is primarily valued by the number of followers he can engage with. Sway introduces a web3 equivalent model where social capital is translated into an asset class. Instead of ‘following‘ a creator, participants can stake with their creator pool. Value is established based on the pool participation TVL. Stakeholders are providing a social underwriting facility for creators through a subDAO.