MKR/USD (0.15%)
Maker is a governance token for DAI stablecoin. The token was established in 2015, two years before the introduction of the DAI stablecoin it manages. Holders of the coin vote on issues surrounding the management of the DAI stablecoin, including the injection of new collateral and adjustment of risk.
The coin has received positive feedback and good reputation over the years, thanks to the success of the DAI stablecoin. It is an ERC-20 coin that supports smart contracts. As such, it can be used on DeFi programs and to create immutable contracts within the ecosystem.
A Bit About Maker
Maker can be described as a governance token for a crypto-based stablecoin. It is the brainchild of Rune Christensen, a Danish entrepreneur with a background in internal business. The coin was established to empower holders to manage a stablecoin that was released in 2017. It also plays a role in ensuring that supported DeFi projects run smoothly.
Presently, the coin is chiefly used for staking when making decisions based on the stablecoin. It stands for stability, as it strives to ensure that the value of the stablecoin does not fluctuate like that of the underlying cryptocurrency.
Very interesting DAI stablecoin governance coin!CryptoLists.com
Maker is an Ethereum-based cryptocurrency. The ERC-20 currency is used for making governance decisions within the Marker ecosystem, especially on issues to do with its protocol. It maintains the value of the DAI stablecoin through a combination of initiatives that include the addition of new collateral types, updates of the DAI savings rate, and adjustments to risk parameters.
Governance interventions are vital in ensuring that the stablecoin value remains stable. Its value is tied closely to how DAI is performing. So far, since DAI has weathered storms and remained relatively stable, the coin has also remained stable. Since MKR is based on the Ethereum blockchain and is an ERC-20, it supports the formation of smart contracts, some of which are used to maintain the stability of the DAI stablecoin.
Utility of Maker?
Maker coin is chiefly used for managing the Maker Protocol. Holders of the coin used it for staking and voting on various governance matters on the DAI stablecoin. Their decisions, expressed in the voting, shape the future of the stablecoin. This is vital as it helps the stablecoin handle the tough conditions that it meets at the marketplace.
Apart from the ability to vote for decisions that touch on the stablecoin, holders of Maker gain other benefits, including managing processes within the ecosystem. Additionally, those that place their assets for the stability of the coin earn from interests and other income that come from trading at the marketplace. Finally, whenever the value of the token rises, its holders earn more from their coins.
Maker Price details
ETH Contract address: 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
›› Details & Tokenomics
›› MKR tokenomics and social media
Advantages of Maker
+ Maker holders have the power to steer the growth and movement of DAI stablecoin+ Maker is relatively stable on the marketplace, making it a good investment
+ You can purchase and trade in Maker coin on any of the participating crypto exchanges
+ There is potential for growth in value when DAI succeeds at the marketplace
+ Maker can be used to create and run smart contracts within the Ethereum ecosystem
Disadvantages
- Maker is only used for governing the DAI stablecoin with limited utility out there- Being a niche coin, it does not enjoy high buying pressure and rapid value increases
- Its success is tied to DAI and may fall if DAI stumbles
- Maker does not offer rewards like other stablecoins on the market
- Since it is an ERC-20 coin, it costs significantly more to transact with it than such coins as Solana
Costs
▪ Rated at 9/10Maker is an ERC coin, so the cost of transactions is influenced by the Ethereum blockchain. Expect to pay up to about 0.1% of the amount transacted. While the transaction cost is higher than most leading cryptocurrencies, it is still lower than what Ethereum charges as gas fees. Remember that gas fees may vary if there is congestion in the network. A higher fee will give your transaction priority in such a scenario.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 7/10
Maker has enjoyed positive feedback for all the years it has been in operation. To start with, it was one of the first cryptocurrencies to support a stablecoin. While it has faced its fair share of problems, coin holders have made timely decisions to save the stablecoin, something that has won them positive media coverage. For example, during and after the COVID pandemic, they voted to de-peg the DAI stablecoin from the dollar, and this move ensured its stability.
The coin has been around for almost a decade and has been instrumental to the over 10 billion USD in market capitalization for the stablecoin. This shows the level of confidence that people have in the holders’ ability to govern the stablecoin and ensure its stability.
FAQ
Can I buy Marker (MKR) as an investment?
Yes, you can buy Marker tokens from cryptocurrency exchanges conveniently. The coin is currently hosted on such exchanges as Coinbase Pro, Uniswap, and Binance. Check new exchanges from the official Marker website. Additionally, be sure to follow the terms of the exchange that you pick to transact smoothly.
What is the work of MKR on the Maker network?
MKR is generally a governance token on the Maker network. Holders of the coin vote on various issues that affect the DAI stablecoin. They approve new collateral or changes in the same, may adjust risk levels, or determine the currency to peg on.
Is Maker MKR safe?
Yes, the coin is an ERC-20 token. This means it enjoys all the security features offered by Ethereum. You can invest in it without worrying about possible hacking or theft of your assets within the ecosystem. Transactions with the coin are also verified, and their records are immutable.
History of Maker
February 2015 – Rune Christensen establishes the Maker network. The founder is a businessman with an eye for easier financial governance in the DeFi field.
December 2017 – Maker DAI is officially launched with an eye on the DeFi and management of a stablecoin.
July 2019- An update on Maker systems enables it to accept other Ethereum-based assets for managing DAI stablecoin.
October 2020 – Maker hits 800 million USD in capitalization, making it the 25th largest cryptocurrency in the market.
February 2022- Maker reaches 10 billion dollars in market capitalization for its supported stablecoin.
Screenshots from Maker
More sites where to buy/sell/trade Maker
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Remember to never risk money that you can not afford to loose. Crypto currencies is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Maker details and tokenomics
BNB Contract address: 0x5f0da599bb2cccfcf6fdfd7d81743b6020864350
AVAX Contract address: 0x88128fd4b259552A9A1D457f435a6527AAb72d42
