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MakerDAO vs Remitly

MakerDAO logo

MakerDAO

Software

The decentralized stablecoin protocol

From
Free
Rated
-
Full reviewWebsite
Remitly logo

Remitly

Software

Send money faster to loved ones abroad

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only MakerDAO has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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; Remitly no fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • They diverge on capability: MakerDAO covers DAI Stablecoin, Remitly covers International remittances.

Where they differ

Only the attributes on which MakerDAO and Remitly actually diverge.

Attributes where MakerDAO and Remitly differ
AttributeMakerDAORemitly
Starting priceFreeOn request
Pricing modelfreetransaction
Free tierYesNo
PlatformsWebWeb, IOS, Android
Founded20152011

Identical on both: user rating (Not yet rated), category (Unknown).

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 MakerDAO

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

Only in Remitly

  • International remittances
  • Multiple delivery methods
  • Send money to 200+ countries
  • Currency conversion
  • Bank accounts
  • IOS support
  • Android support

Both cover

  • Web support

What people use each for

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

MakerDAO

  • Definot Remitly
  • Stablecoinnot Remitly
  • Lendingnot Remitly

Remitly

  • Sending cross border remittances from a phone or browsernot MakerDAO
  • Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot MakerDAO

Where each one falls short

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

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

Remitly

  • No fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • The Express and Economy delivery options have no published price difference

Pricing, plan by plan

MakerDAO

Free
  • FreeFree
    • DAI minting
    • Vaults
    • Governance

Remitly

On request
  • Express$undefined/month
    • Fast transfers
    • Multiple delivery methods
  • Economy$undefined/month
    • Lower cost option
    • 3-4 day delivery

Which should you pick?

Choose MakerDAO if

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

Choose Remitly if

  • You need international remittances.
  • You work on Web, IOS, Android.
  • You also want multiple delivery methods.
Remitly review

Questions people ask

Is MakerDAO or Remitly better?
Neither clearly leads. MakerDAO starts at Free and Remitly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, MakerDAO or Remitly?
MakerDAO has a free tier; the other does not. Paid plans start at Free for MakerDAO and On request for Remitly.
Does MakerDAO or Remitly run on more platforms?
MakerDAO runs on Web. Remitly runs on Web, IOS, Android.
Can I use MakerDAO for free?
Yes. MakerDAO has a free tier, so you can try it without paying. Remitly starts at On request.
What is MakerDAO best used for?
MakerDAO is most often used for defi, stablecoin, lending. Of those, defi and stablecoin are not what Remitly is typically brought in for.
What can MakerDAO do that Remitly cannot?
MakerDAO covers DAI Stablecoin, Vaults, Stability Fees, Liquidations. Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries, Currency conversion. Both handle Web support.
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