Maker token, a creation of MakerDAO, was launched as a governance token for the DAI system and to support the stability of the DAI token. Holders of MKR have the right to draft decisions on the future of the system. To maintain the stability of the DAI coin, a Maker token is used, which prevents fluctuations in price.
About Maker Token
Rune Christensen – a developer and entrepreneur, is regarded as the founder of MakerDAO. Launched in August 2015 by the founding team, the role of the MKR token was to act as a governance token. Synapse Capital, Polychain Capital, and Andreessen Horowitz are some of the venture capitalists that have invested in Maker DAO.
Maker (MKR) is designed to provide voting rights to the people holding tokens. If you are looking to buy a Maker token, then you can check for third-party cryptocurrency exchanges like Coinswitch .
Maker tokens ensure voting rights and stability of DAI tokens. You can use Maker (MKR) in the following ways:
MakerDAO didn’t run an ICO for Maker tokens and released 1 million tokens that could be created or destroyed depending on circumstances. Maker tokens could be purchased on coin exchanges, or you can earn them by voting on the platform.
MKR is a token on the Ethereum blockchain that provides governance rights, maintains the stability of DAI, and also helps to create additional collateral.
You can buy Maker tokens online on any cryptocurrency exchange. Furthermore, you can earn MKR fees by participating in voting rights.
The total supply of Maker tokens depends on the market conditions. Presently, there are about 1 million MKR in existence.
You can invest in Maker token using the CoinSwitch Kuber app.
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Maker token was launched as a governance token for the DAI system and to support the stability of the DAI token.
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