The Decentralized Stablecoin Platform Developed on Top of the Ethereum Blockchain.
Maker (MKR) Fact Sheet
- Maker (MKR) is a decentralized autonomous organization (DAO) that lives on top of the Ethereum (ETH) blockchain and lets anyone lend or borrow cryptocurrencies without the need to check their credit.
- Maker is the decentralized network for lending, where MKR is the core utility as well as governance token.
- The network essentially fuses advanced smart contracts with a pegged stablecoin.
- Holders of the MKR cryptocurrency are provided with the opportunity to make critical decisions surrounding the system's overall service and its future.
- The project was originally created in 2014 with the main intention of providing cheap and quick transactions by using the Maker Protocol.
MKR Historical Data Price Chart in the US Dollars (USD)
MKR Historical Data Price Chart in the US Dollars (USD). Source: TradingView
What is Maker (MKR)?
Maker (MKR) is a cryptocurrency that MakerDAO developed. This cryptocurrency has the primary objective of supporting the stability of the Dai (DAI) cryptocurrency, which is MakerDAO's stablecoin and aims to enable governance within the Dai Credit System.
In fact, throughout the MakerDAO ecosystem, there are two primary cryptocurrencies utilized in order to make it work the way it does. First, there’s the Maker (MKR) cryptocurrency, and then there’s Dai (DAI) as a stablecoin.
DAI is, by design, meant to provide an alternative to the more volatile cryptocurrencies and enable use