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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Maker is on the rise this week.
The price of Maker has risen by 19.50% in the past 7 days. The price increased by 6.97% in the last 24 hours. In just the past hour, the price shrunk by 0.52%. The current price is $768.745 per MKR. Maker is 87.87% below the all time high of $6,339.02.
The current circulating supply is 977,631.037 MKR.
Maker is an Ethereum token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.
What Is Maker (MKR)?
Maker is an -based governance and utility of the Maker system. Maker aims to unlock the potential of decentralized finance by building an inclusive platform for economic empowerment that gives everyone equal access to the global financial marketplace.
Notably, the Maker Platform consists of the following components:
MakerDAO: is an open-source community project on the Ethereum and a decentralized autonomous organization. The project is administered by people all over the world who own MKR, the project's governance token. MKR holders regulate the Maker and Dai's financial risks using a scientific governance mechanism that includes executive voting and governance polling (called DSChief). The MKR voting weight is proportional to the number of MKR tokens staked by a voter in the voting contract. In simple words, the more MKR tokens are locked into the contract, the more decision-making power the voter has. MakerDAO as a group is devoted to improving the Bitcoin economy's stability.
Maker Protocol: The Protocol, developed on the Ethereum blockchain, allows users to build their own currency, the Dai . MakerDAO regulates the Maker Protocol by deciding on critical parameters (e.g., stability fees, collateral types/rates, etc.) using MKR holders' voting power. The Maker Protocol, one of the largest decentralized applications (DApps) on the Ethereum blockchain, was the first to gain widespread popularity as a decentralized finance () application. Additionally, Maker collateral vaults, oracles, and voting are other important components of the Marker Protocol. The Maker Protocol makes use of a two-token system, Dai and MKR.
Dai: The stablecoin is a decentralized and collateral-backed pegged . A cryptocurrency is one whose exchange rate in relation to a traditional currency has been pre-determined by a national government. The Maker community thinks that a decentralized stablecoin is essential for any business or individual to achieve the benefits of digital currency.
MKR: is a used by stakeholders to keep the system running and Dai in check. MKR token holders make decisions for the Maker Protocol, which is supported by the greater public community and a variety of other external stakeholders.
Governance: The mechanism of the protocol is designed to be flexible. The MKR token allows the holders to make changes via a vote to the Maker protocol. The voters can decide whether to add any new type of asset as collateral. They can modify the risk parameters of the current collaterals. Furthermore, the voters can trigger an emergency shutdown. Moreover, the holders can upgrade the system by submitting new proposals.
Recapitalization: The token works as a (restructuring a company's debt-to-equity ratio) resource for the Maker platform to balance the demand and supply of Dai tokens generated in the auction process.
Cryptocurrency: The MKR token is the cryptocurrency of the platform.
Maker vaults: are that can be used to leverage collateral assets to generate Dai tokens. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on blockchain.
History of Maker (MKR)
The Maker Protocol was in 2015 by a developer group headed by . The group was formalized later into the Maker Foundation, a company located in the Cayman Islands. Christensen formerly worked at Try China, an international hiring firm. He earned a bachelor's degree in biochemistry from the University of Copenhagen and a master's degree in international business from the Copenhagen Business School.The first whitepaper of MakerDAO was in December 2017.
Moerever, two organizations backing Maker are the Maker Foundation and the Dai Foundation. The Maker Foundation is part of the worldwide Maker community and developed and launched the Maker Protocol in combination with a few outside partners. The Dai Foundation, though, is based in Denmark and is self-governing and independent of the Maker Foundation. The Dai Foundation's purpose is to safeguard intangible assets of Maker's protocol, such as trademarks and code copyrights.
How Are New Maker Tokens (MKR) Created?
The MKR token is not minable but gets by the market's demand and supply for Dai tokens. Every time there is a collateral auction of the Maker vault, the value of the vault can generate more Dai tokens required by the system or fewer Dai tokens to sufficiently increase the liquidity. If the amount of Dai tokens generated is not enough, the protocol mints new MKR tokens. The newly minted MKR tokens are sold to cover the remaining sum for liquidation, which increases the total supply. However, if the amount of Dai generated through auction is more than the required limit, the Maker protocol burns MKR tokens from the system and decreases the total supply. Cryptocurrency is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burned to reduce availability and increase market value.
How Many Maker Tokens (MKR) Are There?
The supply of MKR tokens is not fixed and keeps changing based on the market condition of Dai tokens.
How to Buy Maker Tokens (MKR)
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Maker on social media.
Maker was mentioned in 1,190 out of 1,765,584 social media posts on Twitter and Reddit on Sep 28, 2022. 1,213 unique individuals are talking about Maker and it is ranked #100 in most mentions and activity from collected posts.
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What is the current price of Maker?
The price of 1 Maker currently costs $768.75.
What is the market cap of Maker?
The current market cap of Maker is $752.70M. A high market cap implies that the asset is highly valued by the market.
What is the all time high of Maker?
The all-time high of Maker is $6,339.02. This all-time high is highest price paid for Maker since it was launched.
What is the 24 hour trading volume of Maker?
Over the last 24 hours, the trading volume of Maker is $38.85M.
What other assets are similar to Maker?
How many Maker are there?
The current circulating supply of Maker is 978 thousand.
What is the typical holding time of Maker?
The median time that Coinbase customers hold Maker before selling it or sending it to another account or address is 7 days.
What is the relative popularity of Maker?
Maker ranks 41 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
What is the current trading activity of Maker?
Currently, 78% of Coinbase users are buying Maker. In other words, 78% of Coinbase customers have increased their net position in Maker over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.