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
- Facebook’s centralized metaverse a threat to the decentralized ecosystem?Cointelegraph.com News - 7 hours agoFacebook’s metaverse plans have caused discomfort in the crypto community, but there’s every reason to believe in a decentralized future for metaverses. Facebook has been…
- NFTs as micro-social networks: The path to crypto adoptionCointelegraph.com News - 7 hours agoNonfungible tokens could be a step toward new social interactions, a notion that might not be as far-fetched as it sounds. Nonfungible tokens (NFTs) are…
- Finance Redefined: 1M ETH burned since EIP-155 and Dorsey drops tbDEX white paper, Nov. 19–26Cointelegraph.com News - 9 hours ago1 million Ether has been burned since the London hard fork, Square released a beta white paper for a decentralized exchange and Grayscale predicted a…
- Bitcoin sentiment in 'wild' divergence from reality as $53K BTC triggers 'extreme fear'Cointelegraph.com News - 12 hours agoBitcoin price action is just 20% from all-time highs, but the market has reentered “extreme fear” for the first time since $43,000. Bitcoin (BTC) has…
- Vitalik Buterin proposes calldata limit per block to lower ETH gas costsCointelegraph.com News - 13 hours agoButerin issued a decrease-cost-and-cap proposal that aims to reduce unprecedented levels of strain and risk breaking the network. Ethereum co-founder Vitalik Buterin has proposed a…
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 71 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 $ 2,754,888,449, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,033,362,780,222, Litecoin at $ 13,447,830,259, Ethereum at $ 483,282,899,726, Tether at $ 73,927,752,624, and XRP at $ 44,669,018,508.
What is the price of Maker (MKR) today (updated in realtime)?
The current price of Maker is $ 3,046.38 in USD. (The price in Euros is 2.710,38 €; and the price in Bitcoin is Ƀ 0.05606972 BTC.)
How has Maker (MKR) performed recently?
Maker‘s price has decreased in the last 24 hours by -3.55%. The change in price over the last seven days was 2.55%. The trading volume over the last 24 hours was $ 88,895,500. 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 989,767 MKR.
What is the 24 hour volume for Maker (MKR)?
The 24 hour volume of Maker is $ 88,895,500.
What is Maker (MKR) official website?
Maker‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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