Maker (MKR) Price

Built on the Ethereum blockchain, Maker (MKR) is a smart contract platform that aims to solve the problem of volatility in the crypto market. Maker (MKR), the governance token of the Maker DAO and Maker Protocol, allows for fast and simple international payment and peer-to-peer transactions. The development team aims to back and stabilize DAI stablecoin. The US dollars back DAI; hence, it is able to maintain its purchasing power and value long-term. Maker (MKR) smart contract platform allows members of the ecosystem to leverage the fast transaction power, security, and scalability offered by the Ethereum blockchain to generate DAI. Once generated, users can utilize the stablecoin to pay for goods and services, send it to others, or hold it in their wallet.

The Maker Protocol seeks to build a decentralized financial product on a smart contract-enabled blockchain. The protocol is expected to appreciate as DAI rises in value too.

The token also acts as a voting share for the organization that manages DAI. Although dividends are not paid to holders, it gives holders a voting right in the ecosystem.

Features and Update

DAI is a stable and decentralized crypto that does not discriminate. Any individual or business can realize the advantage of digital currency by utilizing DAI. It is in the top 30 cryptos with over $800 million market capitalization, ensuring that DAI has more active addresses than the USDT, which is by some distance the largest stablecoin in the crypto market.

Maker’s uniqueness lies in the fact that it allows holders of the MKR to participate directly in the governance of DAI, which allows holders to have their say on some changes to the Maker Protocol via vote. However, for every holder, their voting power depends on the size of their MKR stake.  The Maker Protocol is a Decentralized Autonomous Organization that enhances multi-chain operation with an amazing ecosystem of DeFi products and services.

Maker Team

Maker DAO was created in 2015 by Rune Christensen, a Denmark entrepreneur. Christensen put together a team of experts in the crypto space and people who have excelled in different fields. Maker DAO was fully launched in 2017 and has since achieved great things in the crypto space.