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    $649.388 $ 649.388
    +¥5204,24 -0.3% 1D
    1D 1M 1Y ALL
    LOADING DATA
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    Market Cap (USD)
    586.12M
    24H Volume
    23.29M
    Circulating Supply
    901.31K MKR
    Max Supply
    1.01M MKR
    All Time High
    6292.31
    Rank
    67

    About Maker (MKR)

    As a smart contract system built on Ethereum, MakerDAO itself is a decentralized autonomous organization. Dai is a stable currency of MakerDAO. It can be automatically adjusted according to the exchange rate changes in the international market, so as to keep its value against the world's major currencies stable and ensure 1Dai=1 US dollar. This feature is similar to USDT. The purpose of MakerDAO is to minimize the price fluctuation of Dai and IMF's international currency basket.

    In the MakerDAO system, besides Dai, MKR also has to be mentioned. MKR coin is the management token and utility token of the Maker system. It is used to pay Dai's stable expenses and participate in the management of the whole Maker system. Unlike the linkage between MKR and Dai and the dollar value, the value of MKR is closely related to the whole system, and it can only be used in Maker's system.

    The real goal and vision of MakerDAO is to implement all the advantages of blockchain technology in a way that can truly solve practical problems for people. Provide inclusive finance for those currently excluded from the global financial system. So that hundreds of millions of people who do not even have bank accounts can really obtain stable and reliable currency through Dai. It is worth mentioning that after years of development, MakerDAO has been applied in margin trading, international transfer, collateralized loan, supply chain finance and other aspects, and has made another step towards its own goal.


    How does MKR Work?

    Maker is the complete system and decentralized autonomous organization (DAO) behind Dai. If Dai is the base currency, Maker is actually a decentralized financial system. The creation method of Maker on-chain collateralization provides the financial market with liquidity that can be adjusted with demand, and also eliminates the inflation risk caused by unlimited money printing, because there are sufficient assets behind the collateralization. In addition, Maker has no counterparty risk and is limited by the influence of the center. Dai is generated on the chain contract, and there is no risk of centralized trusteeship. Even the Maker development team cannot tamper with and transfer users' assets. Maker's mechanism hopes to better realize inclusive finance by reshaping a monetary system.


    What is MKR?

    MKR is a managed and equity token in the entire MakerDAO system.

    (1)Management: MKR holders can participate in the voting of seven risk system behaviors, including adding new collateralized debt positions, modifying existing collateralized debt positions, modifying sensitive parameters, modifying target price change rate, selecting trusted oracle, adjusting price feeding sensitivity, and selecting global liquidators. Meanwhile, the MKR holders can also participate in modifying the four risk parameters in the collateralized debt positions (CDP) in the Dai stablecoin system: debt cap, liquidation ratio, stabilization fee and penalty ratio.

    It can be said that the MKR holders control the operation of the system. How is MKR allocated in the system?

    Presently, the total volume of MKR is 1 million, 61% of which are circulated in the market, 39% are allocated to the foundation and 15% to the core team. The specific allocation mechanism of MKR is not clear, and there is no crowdfunding. Currently, 73.67% of the top 10 positions are held, and 81.85% of the top 25 positions are held. Among them, the investment institution a16z ranks fourth in terms of holdings.

    (2)Equity: when users redeem the collateralized Ethereum, they need to pay MKR as a stabilized fee. In this case, MKR will be burnt. As more and more people use Dai, more and more stabilized fees will be paid, more and more MKRs will be burnt, and MKRs will become more and more valuable. In this sense, MKR can be regarded as a deflation system, and the holders of MKR can benefit from the wide use of Dai.

    There is one situation that will cause the system to issue additional MKRs: if the collateral price plummets in a short time and falls below the liquidation ratio, and the collateral assets can not support the circulation of Dai, the system will confiscate the assets and auction them to repay the previously lent Dai (for the system, each Dai issued means one Dai in debt).

    The system began to issue MKR and sell MKR to buy Dai. Then, the system sells the collateralized assets in the form of public auction, and uses the raised Dai to repurchase and burn MKR.

    In this case, the MKR holders became the last person to reveal the bottom of the system. The MKR holders enjoy the benefits of system growth and also bear the risk of system crash.
    Expand

    Maker Market

    Currency Price 24H Change Action
    MKR /USDT
    3X Margin
    $649.388 -0.3% Trade
    MKR /USDT
    Futures
    $649.2 -0.37% Trade
    MKR /USDT
    Spot
    $649.388 -0.3% Trade

    Maker News

    News
    Announcements
    Market Maker B2C2 Offers to Buy Loans From Genesis Crypto-Lending Unit

    Market Maker B2C2 Offers to Buy Loans From Genesis Crypto-Lending Unit

    The lending arm of the crypto financial firm Genesis halted customer withdrawals earlier Wednesday, citing exposure to Sam Bankman-Fried's collapsed crypto exchange, FTX.
    Source: coindesk Posted: 2022-11-16
    Final Fantasy Maker Square Enix Reveals Its First Ethereum NFT Game

    Final Fantasy Maker Square Enix Reveals Its First Ethereum NFT Game

    Square Enix’s first Web3 game is an interactive art-collecting experience with NFT avatars and storytelling.
    Source: decrypt Posted: 2022-11-03
    Compound Pauses YFI, ZRX, BAT and MKR Supply to Protect Against Potential Exploits

    Compound Pauses YFI, ZRX, BAT and MKR Supply to Protect Against Potential Exploits

    Attackers have recently been exploiting DeFi protocols by manipulating thinly-traded tokens and eventually draining liquidity.
    Source: coindesk Posted: 2022-10-25
    Market Maker GSR Cuts Staff Amid Crypto Winter

    Market Maker GSR Cuts Staff Amid Crypto Winter

    The trading shop cut less than 10% of staff to “continue to position our business for long-term growth,” a spokesperson told CoinDesk
    Source: coindesk Posted: 2022-10-11
    Terra’s Collapse Destroyed Faith in Stablecoins. Can Maker Restore It?

    Terra’s Collapse Destroyed Faith in Stablecoins. Can Maker Restore It?

    What’s backing MakerDAO’s decentralized stablecoin DAI? Mostly other coins—and about five years of uninterrupted existence.
    Source: decrypt Posted: 2022-10-03
    Cryptocurrencies XRP, MKR Shine as BTC, ETH Hold Steady Ahead of US Inflation Data

    Cryptocurrencies XRP, MKR Shine as BTC, ETH Hold Steady Ahead of US Inflation Data

    XRP climbed above its 200-day moving average while MKR hit a three-week high. A higher-than-estimated figure for core PCE, the Fed's preferred measure of inflation, may inject volatility into markets.
    Source: coindesk Posted: 2022-09-30
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