Maker
MKR

$2,402.539

11.28%
  • Market Cap
    $2,233,219,970.269
  • 24 Hour Trading Vol
    $78,959,064.026
  • Fully Diluted Valuation
    $2,348,796,079.614
  • Circulating Supply
    928,666
  • Total Supply
    977,631
  • Max Supply
    977,631
Maker
MakerDAO is an Ethereum-based protocol that facilitates collateral-backed loans without the need for a middleman
Socials
Category
DeFi
Maker Converter
MKR
1 MKR = $2,402.539
MKR Statistics
  • Maker Price
    $2,402.539
  • Trading Volume
    $78,959,064.026
  • Market Cap
    $2,233,219,970.269
Maker Price Chart (MKR)

Loading...

24h
7d
30d
3M
1Y
YTD
+11.28%
+2.28%
-13.93%
-21.07%
+230.69%
+41.57%
About Maker

MakerDAO is an Ethereum-based protocol that facilitates collateral-backed loans without the need for a middleman. Since its launch, it has gained widespread use and its DeFi integration has made MakerDAO one of the most operational protocols across the crypto ecosystem.

MakerDAO is made up of a smart contract service that manages borrowing and lending. It has two currencies, DAI and MKR, that are used to regulate the value of loans.

What are MakerDAO’s key features and how does it work?

MakerDAO makes use of two tokens, these are MKR and DAI. DAI is fully backed stable while MKR is a governance token. 

DAI is an ERC20 token on the Ethereum blockchain that is soft pegged to the US dollar. Also on other chains now It is designed to provide an alternative to more volatile cryptocurrencies. When a loan is taken out on MakerDAO, DAI is created. It is the currency that users can borrow and then pay back at a later date.

The Maker (MKR) token was created by MakerDAO. Its main function is to govern Maker protocol. Traditional stablecoins use reserves of fiat currencies, or in some cases gold, to peg a cryptocurrency in order to keep it stable.

MKR is also used in the Dai system governance. MKR tokens are used by its holders to vote on changes to the MakerDAO protocol. However, anyone with an Ethereum address can submit a proposal to change the protocol, even if they do not own any MKR.

DAI is issued when buyers purchase a smart contract-based collateralized debt position (CDP), which is very similar to a traditional loan. CDPs are bought with ETH and DAI is given in return, as such, ETH acts as the collateral to the loan. 

In essence, the system means that individuals can get a loan against their ETH. Upon repayment of the loan, the DAI is “burned” or destroyed.

Where can you buy MKR?

MKR can be bought on the exchanges:

Coinbase;Binance;Okex;Kucoin.
Maker Markets
ExchangePairLast PriceChange (24H)High (24h)Low (24h)SpreadVolume (24h)

Rows per page:

0–0 of 0

Popular Cryptocurrencies
Growth Leader (24 hours)
..
Flare
+14.33%
$0.027
Leader in trading volume (24 hours)
..
Bitcoin
$10.9B

© Token Radar 2024. All Rights Reserved.
IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.