Softwr

Cryptocurrency & Blockchain · head to head

FTX vs MakerDAO

F

FTX

Cryptocurrency & Blockchain

Cryptocurrency derivatives exchange

From
Free
Rated
-
Full reviewWebsite
MakerDAO logo

MakerDAO

Cryptocurrency & Blockchain

The decentralized stablecoin protocol

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: FTX the exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022; MakerDAO makerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price
  • They diverge on capability: FTX covers Futures Trading, MakerDAO covers DAI Stablecoin.

Where they differ

Only the attributes on which FTX and MakerDAO actually diverge.

Attributes where FTX and MakerDAO differ
AttributeFTXMakerDAO
Pricing modelfreemiumfree
PlatformsWeb, Ios, AndroidWeb
Founded20192015

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Cryptocurrency & Blockchain).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in FTX

  • Futures Trading
  • Options
  • Leveraged Tokens
  • Spot Trading
  • FTT Token
  • Serum DEX
  • Ios support
  • Android support

Only in MakerDAO

  • DAI Stablecoin
  • Vaults
  • Stability Fees
  • Liquidations
  • Governance
  • MKR Token
  • DAI
  • Spark Protocol

Both cover

  • Web support

What people use each for

The jobs each tool is most often brought in to do.

FTX

  • Exchangesnot MakerDAO
  • Derivativesnot MakerDAO
  • Tradingnot MakerDAO

MakerDAO

  • Definot FTX
  • Stablecoinnot FTX
  • Lendingnot FTX

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

FTX

  • The exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022
  • Around 130 affiliated companies including Alameda Research entered the same proceedings, with more than 100,000 creditors and assets and liabilities each between $10 billion and $50 billion
  • Founder Sam Bankman-Fried resigned as CEO on the filing and was replaced by John J. Ray III
  • It is not a service anyone can sign up for; the estate exists to repay creditors

MakerDAO

  • MakerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price

Pricing, plan by plan

FTX

Free
  • StandardFree
    • Spot trading
    • Futures
    • Options

MakerDAO

Free
  • FreeFree
    • DAI minting
    • Vaults
    • Governance

Which should you pick?

Choose FTX if

  • You need futures trading.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want options.
FTX review

Choose MakerDAO if

  • You need dai stablecoin.
  • You want to start without paying.
  • You also want vaults.
MakerDAO review

Questions people ask

Is FTX or MakerDAO better?
Neither clearly leads. FTX starts at Free and MakerDAO at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, FTX or MakerDAO?
FTX starts at Free and MakerDAO at Free.
Does FTX or MakerDAO run on more platforms?
FTX runs on Web, Ios, Android. MakerDAO runs on Web.
Can I use FTX for free?
Both have a free tier, so you can try either at no cost before committing.
What is FTX best used for?
FTX is most often used for exchanges, derivatives, trading. Of those, exchanges and derivatives are not what MakerDAO is typically brought in for.
What can FTX do that MakerDAO cannot?
FTX covers Futures Trading, Options, Leveraged Tokens, Spot Trading. MakerDAO covers DAI Stablecoin, Vaults, Stability Fees, Liquidations. Both handle Web support.

Answered from the vendors’ own pages

FTX: What happened to FTX?

FTX filed for bankruptcy on November 11, 2022, after revelations about Alameda Research's massive holdings of FTX's token (FTT) triggered a liquidity crisis. The platform collapsed within days as a competing rescue deal fell through.

Source
FTX: Can I recover funds from FTX bankruptcy?

FTX has been in Chapter 11 bankruptcy proceedings since November 11, 2022. Customer funds have been subject to claims through the bankruptcy process, with asset recovery efforts ongoing.

Source
ShareXLinkedInRedditWhatsAppEmail

Related pages

More on FTX

More on MakerDAO

Keep looking

Other head to heads