As of beginning of August 2019, the MKR rate is over $600 per coin. It ranks among Top 30 cryptos by capitalisation with ~$600M, according to CoinMarketCap. The MKR circulating supply is 1M coins. With ROIs over 2,600%, Maker has enjoyed due investor attention since its inception in 2017. Most importantly, Maker is a smart contract platform that beefs up the value of the Dai (DAI) stablecoin.
The Dai stablecoin
MKR coins are issued and burnt along with the Dai market dynamics to keep DAI’s rate around $1. That said, the rate of MKR itself is volatile, it’s price surges in line with greater DAI usage. As shareholders, or members of a decentralised autonomous organization (DAO), Maker users may allocate MKR to pay transaction fees and exercise their voting rights in the approval system. MKR is also instrumental in raising funds for the project.
Maker is essentially a margin trading platform. Each Dai token is secured by CDP collateral (Collateralized Debt Position) for debt obligations that are submitted to a smart contract. The entire framework spanning the DAI stablecoin, Maker and CDP renders robust security and attractive pricing to developers and traders.
Unlike its centralised siblings, the Dai stablecoin fully resides on the blockchain. Dai does not rely on any localities or counterparties, it’s solvency is guaranteed by the collateral escrowed into publicly available and verifiable smart contracts.
You can’t mine MKR coins, yet you can purchase them as part of EXANTE’s crypto assets. Contribute to the Maker DAO and Dai ecosystem and have your say in the project’s development.
The information in this text is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Please be aware that short selling strategy implies high risks.