Is MakerDAO built on Ethereum?

Could you please clarify for me if MakerDAO is indeed constructed on the Ethereum blockchain? I've heard rumors that it utilizes the functionalities and security of Ethereum, but I'd like to have a confirmed answer. Does MakerDAO indeed leverage the scalability and decentralized nature of Ethereum for its operations? If so, how does it integrate with the Ethereum ecosystem and what are the specific benefits of this integration? It would be great if you could provide some insights into this matter. Thank you in advance for your assistance.