About this explorer

MakerDAO is the system that mints DAI: a borrower locks collateral in a vault and draws new DAI against it, paying a stability fee whose rate governance sets per collateral type. When a vault falls below its collateral type's minimum ratio, it is liquidated at auction.

Each row of the listing is one vault: its collateral, its DAI debt with accrued fees, and its status. Dollar values use the protocol's own price feeds — the same delayed oracles Maker itself acts on, and the same ones the collateral ratio beside each debt divides into it. The listing filters by collateral type and searches by wallet or vault number. Or see the balance sheet of the Vat (Maker's core accounting contract, where every vault's collateral and debt is recorded), split by collateral type.

Each vault page follows one vault: the card states its collateral, debt with the stability fee in it, and collateral ratio and who owns it; Lifetime flows adds up what went in and out; the timeline lists every event, with what a liquidation's auction sold and handed back and who the vault passed to.

MakerDAO renamed itself Sky in 2024: the same vault system, now minting USDS beside DAI. USDS and DAI are exchangeable one for one, both ways, through Sky's DAI–USDS converter.

Vaults opened through Sky's LockStake Engine are listed here too, as urns (for example this one). The owner locks SKY and draws USDS through the engine, which makes a separate address, the urn, for the Vat to record the SKY and the debt under; an urn has no vault number. The engine stakes the locked SKY in a rewards farm the owner picks and passes its voting power to a delegate the owner picks, and the owner claims the farm's rewards; governance can set an exit fee on SKY taken out. Picking a farm or a delegate and claiming rewards are not shown here. Below the collateral type's minimum ratio (120% for LSEV2-SKY-A) an auction can sell the SKY, which the engine first takes out of the farm and back from the delegate. Each urn page says whether governance has these auctions switched on and what price cap it has set on SKY.

Sky's savings are a separate explorer: Sky Savings lists every address holding sUSDS, with the interest each has earned.