Introduction to Maker (MKR) Token
Maker (MKR) is a cryptocurrency token operating on the Ethereum platform. As the governance token for MakerDAO's ecosystem, it plays a vital role in maintaining the Dai stablecoin system.
👉 Discover how MKR powers decentralized finance
Key Statistics (Live Data)
- Current Price: $509.91 USD
- 24h Trading Volume: $1,647,235 USD
- Market Cap: $496,499,115 USD (Rank #24 among cryptocurrencies)
- Circulating Supply: 743,000 MKR
- Max Supply: 1,000,000 MKR
- Listed Exchanges: 32 platforms with 70 active markets
Understanding MKR's Role in DeFi
The MakerDAO Ecosystem
MakerDAO is Ethereum's pioneering decentralized autonomous organization (DAO) that created:
- Dai Stablecoin: First decentralized stablecoin pegged 1:1 with USD
MKR Governance Token: Used for:
- Paying stability fees
- Voting on system parameters
- Acting as "last-resort" collateral
Technical Specifications
| Attribute | Detail |
|---|---|
| Launch Date | January 30, 2017 |
| Total Supply | 1,000,000 MKR |
| Blockchain | Ethereum ERC-20 |
| Consensus | Proof-of-Stake |
Why MKR Matters in Cryptocurrency
Unique Value Propositions
- Stability Mechanism: Backs Dai through collateralized debt positions
- Community Governance: Token holders vote on critical system parameters
- Utility: Required for fee payments within Maker protocol
👉 Explore top exchanges for MKR trading
MKR Market Performance
Price Analysis
- 24h Change: -2.9%
- Historical Performance: Shows correlation with Ethereum network activity
- Market Position: Consistently ranks among top 50 cryptocurrencies by capitalization
Trading Venues
Most active exchanges include:
- KuCoin
- Binance
- Coinbase Pro
- Kraken
Future Outlook for MKR
Potential Growth Areas
- Expansion of Dai adoption
- Integration with more DeFi protocols
- Enhanced governance features
FAQs About MKR Token
Q: How does MKR maintain its value?
A: MKR's value derives from system usage fees and its role in governing the Maker protocol.
Q: What's the difference between MKR and Dai?
A: While Dai is a stablecoin pegged to USD, MKR is a volatile governance token with utility in the Maker system.
Q: Can MKR be mined?
A: No, MKR has a fixed supply and cannot be mined - all tokens were created at launch.
Q: Where can I store MKR safely?
A: Any ERC-20 compatible wallet like MetaMask or Ledger devices.
Q: How does voting work with MKR?
A: Each MKR token represents one vote in MakerDAO governance decisions.
Q: Why would someone buy MKR?
A: Investors typically acquire MKR for governance participation, speculation on protocol growth, or fee revenue potential.