Maker (MKR) is a cryptocurrency and a governance token. Cryptocurrency Maker (MKR) is a digital token created on the Ethereum platform of the project Maker, the main purpose of which is to create a line of decentralized digital assets that would be tied to the value of real instruments such as currency, gold, etc.
On the basis of the platform, it is planned to create an exchange where it would be possible to carry out margin trading of tokens on the ERC20 Protocol.
What is Maker?
Maker is a decentralized autonomous organization on the Ethereum blockchain with the objective of minimizing the price volatility of its own stablecoin Dai, against the U.S. Dollar. In contrast to DAI the price of Maker itself is volatile. Maker is a utility token and the price increases with the usage of the Dai.
Maker holders can vote for the risk management and business logic of the Maker system. MKR coins can not be mined, but they can be purchased on the Bibox exchange. Maker operates on the principle of margin trading. Dai tokens are secured by CDP-collateral for debt obligations, which are sent to a smart contract and are a platform for margin trading. This framework allows developers to provide affordable prices, as well as guarantee a high level of security.
One of the key elements of the Maker system is a margin trading зlatform. Each issued by Dai is provided by a CDP-Secured Debt Position (Collaterized Debt Position), sent to the eponymous smart contract, which is simultaneously a decentralized platform for margin trading, and provides higher security and lower prices compared to existing margin trading systems. Together steblay Dai, the exchange Market Maker and CDP platform margin trading represent a complete financial solution for everyone, from rural India to wall street.
MKR Token Price
The Maker also has its own MKR token financing the project's activities. The company has secured the support of the Ethereum Foundation and according to the developers, is an integral and important element in the ecosystem of Ethereum. MKR is necessary to attract investment in the project Maker itself. MKR holders are something like shareholders, but instead of a joint-stock company there is a decentralized Autonomous organization (DAO).
BitcoinWiki suggests you an online price of Maker cryptocurrency:
Dai is a fully collateral-backed currency token whose value is kept predictable relative to the US Dollar through a series of competing for financial incentives.
Unlike centralized stablecoins, the currency lives completely on the blockchain, its stability is unmediated by any locality, and its solvency does not rely on any trusted counterparties. All Dai is backed by a collateral that has been escrowed into publicly viewable smart contracts on the Ethereum blockchain.