Maker (MKR) explained in 6 steps

Maker is the token of the decentralized application platform known as MakerDAO and its ticker is MKR.

1. When and by whom was it founded?

Created by MakerDAO, Maker was launched on December 18, 2017.

2. The Infrastructure of Maker

DAO stands for “Decentralized Autonomous Organization”. Operating on Ethereum blockchain, MakerDAO was realized with the aim of developing a solution that applies autonomous processes in the financial area.

3. What does Maker promise to the users?

The platform has a stable cryptocurrency referred to as DAI. The fixed exchange rate of DAI value to USD is connected to the algorithm and to the process where the user transactions are realized under the control of this algorithm. Therefore, a stable cryptocurrency can maintain its value without the need of relying on any institution’s promises for keeping reserves and by having its reserve controlled by the algorithm.

The prominent features of MakerDAO ecosystem include producing DAI’s with the ERC20 tokens deposited as collateral, lending owned cryptocurrencies and borrowing from the system in return for a specific amount of collateral. The safe collateral ratios of the loans, their liquidity conditions, interest rates for loaning and borrowing are determined by the votes of MKR holders.

4. Is Maker mined?

Maker is not mined.

5. The lowest and highest price with the total supply

The lowest price of Maker was $21.06 on January 30, 2017, and the highest price was recorded at $1,976.24 on January 10, 2021. The circulating and total supply of this cryptocurrency is 997,350 MKR.

6. How to make Maker transactions on Paribu?

You can click on the link and make your MKR transactions right away via Paribu.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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