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Maker price

(MKR)

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$2,509.30
+10.56%

Market stats

$2.5B

$321.1M

+234.64%

991.3K MKR

99% of total supply

6 days

56% buy
44% sell

#30

$6,298.43

-1.92%

+10.56%

-11.65%

About Maker

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.

How it works

MakerDAO works through a process called “overcollateralization”, where assets supplied by users are locked up in smart contracts as collateral in exchange for newly created DAI tokens. DAI is an ERC-20 token, which means it runs on the Ethereum blockchain. It is designed to maintain a stable value of one US dollar.

The MakerDAO DeFi lending platform works via a collection of smart contracts that allow users to supply and borrow cryptocurrencies without a centralized loan provider. 

Users create DAI by depositing some of their crypto into a smart contract on the platform. Once DAI is created, it functions as a token on the Ethereum blockchain that can be transferred between wallets to facilitate the transfer of value like any other cryptocurrency. DAI is useful as a medium for transfers because each token always aims to be worth one U.S. dollar — which means the value won’t swing wildly during the duration of the transaction. This type of stable cryptocurrency is known as a stablecoin.

Funds deposited to create DAI can be instantly re-acquired by paying off the DAI loan plus any fees. 

Keep in mind

MakerDAO was the first DeFi protocol to reach a total value locked (or “TVL”) of $1 billion in 2020. 

Released: December 2017

Maker is on the decline this week.

The price of Maker has fallen by 11.65% in the past 7 days. The price increased by 10.56% in the last 24 hours. In just the past hour, the price shrunk by 1.92%. The current price is $2,509.3037 per MKR. Maker is 60.16% below the all time high of $6,298.43.The current circulating supply is 991,328.382 MKR.

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