Maker Live Price

What is Maker?

MKR is the native ERC-20 token used in Maker, a decentralized finance or DeFi project that enables users to generate Dai (or DAI), an unbiased, collateralized stablecoin is soft-pegged to a dollar. Only a Maker user can mint new Dai when they deposit a certain amount of crypto into the smart contract. Maker is a pioneer in that its token was among the earliest tradeable coins on the Ethereum (ETH) blockchain. It was also the first decentralized autonomous organization or DAO. This entity is likened to corporations, converting every aspect into a smart contract. This systematic process allows the community to have a hand in the governance of the DAO, allowing transparency. MKR holders have a say in the governance of the Maker ecosystem. They can participate through the Active Proposal smart contracts, allowing them control over the network's future. Maker tokens cannot be mined and can only be destroyed or created based on DAI price fluctuations. These coins are locked into the debt smart contract as collateral. In this light, MKR serves multiple purposes. As an ERC-20 token, MKR can be used as a speculative investment, although it is mainly used as a utility token. MakerDAO launched an initial supply of 1 million MKR, with around 991,000 current circulating pool. Its current market cap is valued at $2.11 billion.

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How much is Maker worth?

Maker (MKR) is worth 1,779.58 USD as of March 15, 2022, 2:17 am UTC time. View the interactive graph to see how much Maker has changed in the last hour or historically. The Maker cryptocurrency is an Ethereum token best described as "a utility token, governance token, and recapitalization resource of the Maker system." The purpose of the Maker cryptocurrency system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.