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
- It’s time for the philanthropic sector to embrace digital currenciesCointelegraph.com News - 9 hours agoSuch principles as decentralization and tokenization will enrich the nonprofit and charitable sectors via accepting donations in crypto. The amount of cryptocurrencies on the market…
- Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploitCointelegraph.com News - 13 hours agoThe hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay. Crypto exchange Bitmart lost…
- Jack Dorsey steps down from Twitter, MicroStrategy snaps up 7K BTC and Square rebrands to Block: Hodler’s Digest, Nov. 28-Dec. 4Cointelegraph.com News - 15 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…
- Things to know (and fear) about new IRS crypto tax reportingCointelegraph.com News - 22 hours agoThe new law redefines “cash” to include “any digital representation of value” including cryptocurrency, but in an anonymous system, is this going to work? The…
- Blockchains need to move toward standards for interoperable asset transfersCointelegraph.com News - 1 day agoA new emerging economy, which includes blockchain-native tokens, digital tokens, stablecoins and CBDCs, requires interoperable blockchain standards. Cross-chain asset transfer has been around for several…
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 67 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 $ 2,300,030,535, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 919,148,252,578, Litecoin at $ 10,543,729,732, Ethereum at $ 487,796,229,203, Tether at $ 76,624,157,724, and XRP at $ 37,696,628,426.
What is the price of Maker (MKR) today (updated in realtime)?
The current price of Maker is $ 2,556.16 in USD. (The price in Euros is 2.259,40 €; and the price in Bitcoin is Ƀ 0.05246418 BTC.)
How has Maker (MKR) performed recently?
Maker‘s price has increased in the last 24 hours by 0.42%. The change in price over the last seven days was -16.74%. The trading volume over the last 24 hours was $ 96,865,996. 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 988,985 MKR.
What is the 24 hour volume for Maker (MKR)?
The 24 hour volume of Maker is $ 96,865,996.
What is Maker (MKR) official website?
Maker‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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