The current real-time Maker price is $1,866.36**, with a 24-hour trading volume of **$27,567,135. Over the past day, MKR's price dropped by 2.54%, and it declined by 5.89% over the last week. The market capitalization of Maker stands at $1,384,269,653, with a maximum supply of 1,000,000 MKR coins. Notably, the circulating supply is 0 coins, and Maker ranks #52 in the cryptocurrency market.
Key Metrics:
- Maker's current price is 70.56% below its all-time high.
- It is 8,762.20% above its all-time low.
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What Is the Maker Protocol (MKR)?
Maker (MKR) is the utility token of the Maker Protocol, an Ethereum-based system governed by MakerDAO, a decentralized autonomous organization (DAO). The protocol enables users to generate Dai (DAI) stablecoins by collateralizing supported assets like ETH.
Key Features:
- Multi-collateral Dai system: Users lock collateral to mint DAI.
- Decentralized governance: MKR holders vote on protocol changes.
- Dynamic recapitalization: MKR tokens stabilize the DAI ecosystem during market volatility.
Founder and Team Behind MakerDAO
Rune Christensen, a Danish entrepreneur with a background in biochemistry and international business, founded MakerDAO in 2015. He is supported by Steven Becker, the COO, who brings extensive experience in financial projects like Polus Capital and Cubit Capital.
Purpose of MKR Tokens
Governance: MKR holders vote on protocol upgrades via:
- Proposal Pool: Evaluates community sentiment.
- Executive Pool: Formal voting for/against proposals.
- Recapitalization: MKR tokens are minted or burned to maintain DAI's stability during market fluctuations.
MKR Token Supply Dynamics
- Inflationary Supply: No cap exists; new tokens are minted to cover DAI shortfalls.
- Deflationary Mechanism: Excess DAI revenue buys back and burns MKR tokens.
- Non-mineable: Tokens are only issued for recapitalization.
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FAQs About Maker (MKR)
1. How does Maker price affect DAI stability?
MKR tokens absorb volatility by recapitalizing the DAI ecosystem, ensuring DAI remains pegged to USD.
2. Can I mine MKR tokens?
No. MKR tokens are only issued during recapitalization events or governance actions.
3. What exchanges support MKR trading?
Popular platforms include Binance, KuCoin, and Kraken.
4. Why does MKR have no circulating supply?
All MKR tokens are held in governance or recapitalization reserves, not freely circulating.
5. How often are MKR tokens burned?
Burns occur when DAI auction revenue exceeds liabilities, reducing total supply.
6. Is MKR a good investment?
While MKR offers governance utility, its inflationary nature and market volatility require careful analysis.
Data and prices update in real-time. For secure trading, always use trusted platforms.