What is Maker?
Maker is the system responsible for making DAI stable through “collateralized debt position” (CDPs) smart contracts on the Ethereum. MKR is an ERC-20 token created in response to insufficient collateral to back for DAI CDPs.
DAI is created through loan contracts which use Ether as a collateral. MKR Holders are responsible for regulating the collateralized rate making DAI consistently worth $1 and are rewarded for doing it; CDPs include a fee which is paid using MKR that is always burned, evating MKR's value.
CDPs are automatically liquidated in case Ether drops to a price such that their collateral (ETH) drops below a given value that is not enough to finance the amount of DAI loaned. If the liquidated volume recovered isn't enough to cover for the corresponding DAI volume loaned, the Maker system automatically creates new MKR tokens which are sold in open markets ensuring a positive balance. This mechanism incentives MKR holders to make rational decisions when voting for collateralized rates.
MakerDAO, the group responsible for Maker, also run a decentralized exchange called OasisDEX.
Maker News And Market Price Data
- Historical Data
- Proshares’ Bitcoin ETF sees $1B in first day volume, BTC price hits new high, and Coinbase partners with NBA and WNBA: Hodler’s Digest, Oct. 17-23Cointelegraph.com News - 16 hours agoComing every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and…
- Fear of the unknown: A tale of the SEC’s crusade against syntheticsCointelegraph.com News - 16 hours agoDeFi built on blockchain and legacy financial systems is on the verge of clashing in one of the most tumultuous battles in economic history. On…
- NFTs for freedom: Nonfungible tokens and the right to self-determinationCointelegraph.com News - 18 hours agoWith a rise in distributed political discourse, nonfungible tokens can provide exciting new opportunities for self-governance. It seems that everyone — from corporate behemoths like…
- What has been standing in the way of a pure-Bitcoin ETF?Cointelegraph.com News - 19 hours agoWith regulators slowly starting to come to terms with Bitcoin as an asset, how could this affect the present and future views of BTC ETFs?…
- Bitcoin 'still bullish' even if BTC price drops to $50K — analysisCointelegraph.com News - 19 hours agoIt may not be likely, but Bitcoin has a lot more room to lure bears into a false sense of security, one analyst forecasts. Bitcoin…
Maker Frequenty Asked Questions
Where does Maker (MKR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Maker currently ranks in position 69 out of the top 1000 cryptocurrencies. Another important factor in popularity is Maker‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Maker has a market cap of $ 2,227,710,321, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,136,169,151,282, Litecoin at $ 13,274,471,798, Ethereum at $ 475,949,654,091, Tether at $ 70,282,540,689, and XRP at $ 50,594,653,875.
What is the price of Maker (MKR) today (updated in realtime)?
The current price of Maker is $ 2,474.96 in USD. (The price in Euros is 2.125,43 €; and the price in Bitcoin is Ƀ 0.04107136 BTC.)
How has Maker (MKR) performed recently?
Maker‘s price has decreased in the last 24 hours by -3.08%. The change in price over the last seven days was -5.44%. The trading volume over the last 24 hours was $ 67,498,062. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Maker‘s (MKR) market supply?
The total circulating (available) supply of Maker is 901,311 MKR. The total supply of Maker is 991,328 MKR.
What is the 24 hour volume for Maker (MKR)?
The 24 hour volume of Maker is $ 67,498,062.
What is Maker (MKR) official website?
Maker‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
All Supported Currencies
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