What is Maker ?
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.
Primary features of Maker
- Maker token is an ERC-20 token that is constructed using Ethereum’s protocols.
- It has a market capitalization of more than $3 Billion.
- The value of Maker tokens appreciates based on the success of the DAI stablecoin.
- MKR token is the governance token of Maker Platform that works on the Ethereum blockchain.
Is Maker a promising cryptocurrency?
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 Kuber.
How to use Maker coins?
Maker tokens ensure voting rights and stability of DAI tokens. You can use Maker (MKR) in the following ways:
- Voting Rights: Earn Maker tokens by voting on the changes for the Maker Platform.
- International Transfers: Maker tokens could be transferred easily to family and friends.
- Online Payments: Maker tokens are accepted at stores worldwide.
- Investment: Maker token has shown good returns in the past years that makes it a good investment.
Pros & Cons of Maker coin
- Community Governance: Maker tokens provide voting rights to people to participate in the ecosystem.
- Mining Free: The Maker tokens are dependent on DAI price fluctuations.
- Collateralized Debt Position: The holders of MKR have a say in the addition of CDP to the platform.
- Transparency: The Maker token offers transparency and a good level of security.
- Asset value: The value of the Maker token fluctuates.
- Slow-development: New features could take some time to come into effect.
Trade Maker coin on CoinSwitch kuber
- You can start investments and trade with just Rs.100.
- Allows instant withdrawal and deposit directly to bank accounts.
- Trade-in Maker (MKR) at zero fees.
- Intuitive and straightforward UI.
- Easily track your transactions and manage your portfolio.
Maker ICO summary
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.
FAQ's on Maker
- How does Maker cryptocurrency work?
MKR is a token on the Ethereum blockchain that provides governance rights, maintains the stability of DAI, and also helps to create additional collateral.
- How to buy Maker cryptocurrency?
You can buy Maker tokens online on any cryptocurrency exchange. Furthermore, you can earn MKR fees by participating in voting rights.
- How Many Maker Tokens Are There?
The total supply of Maker tokens depends on the market conditions. Presently, there are about 1 million MKR in existence.
- How to invest in Maker cryptocurrency?
You can invest in Maker token using the CoinSwitch Kuber app.