Headlines are updated in real time. Click on a headline to the left to read the news.
Maker (MKR) is a unique cryptocurrency that operates on the Ethereum blockchain. It's the governance token of the MakerDAO and Maker Protocol, a decentralized organization and software platform that allows users to issue and manage the DAI stablecoin. Conceived in 2015 and launched in 2017, Maker's primary role is to manage DAI, a decentralized cryptocurrency with a stable value soft-pegged to the US dollar.
MakerDAO, the first entity within the larger Maker ecosystem, was created by Rune Christensen, a Danish entrepreneur. Christensen, a biochemistry graduate from Copenhagen University and international business student at the Copenhagen Business School, co-founded and managed the Try China international recruiting company before creating MakerDAO.
The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. The supply of MKR is a dynamic value that changes depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million.
Maker tokens can be purchased on various cryptocurrency exchanges. However, it's important to do your research and choose a reputable exchange that offers security and transparency.
Maker tokens are primarily used for governance in the MakerDAO and Maker Protocol. Holders of MKR tokens have the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value.
As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market. This popularity and growth in the market are indicative of the potential and promise of Maker and its associated stablecoin, DAI.
In recent Maker news, the co-founder Rune Christensen has proposed an ambitious plan to make DAI, the platform's native stablecoin, a free-floating asset. This means that DAI would no longer be pegged to the US dollar, a significant shift in the platform's operations. The plan involves lending DAI against real-world assets to accumulate ETH, a popular cryptocurrency. This move is expected to take at least three years.
Maker has also been in the news due to its response to a significant hack. In August 2021, DAO Maker was exploited, resulting in the loss of 500,000 DAI. The stolen DAI was sent through the Tornado Cash mixing platform, a tool used to obscure the origins of cryptocurrency transactions. Maker has been working hard to improve its security measures in light of this event.
On the technological front, Maker has introduced a new trading strategy for its users. Known as a Trailing Stop, this strategy allows users to configure a percentage drop from peak market value that would trigger the full closing of their position. This tool can help users lock in profits and minimize losses, enhancing the trading experience on the platform.
Lastly, Maker has been expanding its reach through partnerships and collaborations. For instance, the cross-chain protocol Umee is launching DAI, allowing users to deposit Ethereum as collateral to mint DAI. Maker is also pursuing partnerships with non-crypto financial institutions, indicating its intention to bridge the gap between traditional finance and the crypto world.
Given these recent developments, those interested in where to buy Maker can look to popular cryptocurrency exchanges. However, it's important to stay updated on Maker news today, as the Maker price can be influenced by these and other factors.
Headlines are updated in real time. Click on a headline to the left to read the news.
Maker (MKR) is a unique cryptocurrency that operates on the Ethereum blockchain. It's the governance token of the MakerDAO and Maker Protocol, a decentralized organization and software platform that allows users to issue and manage the DAI stablecoin. Conceived in 2015 and launched in 2017, Maker's primary role is to manage DAI, a decentralized cryptocurrency with a stable value soft-pegged to the US dollar.
MakerDAO, the first entity within the larger Maker ecosystem, was created by Rune Christensen, a Danish entrepreneur. Christensen, a biochemistry graduate from Copenhagen University and international business student at the Copenhagen Business School, co-founded and managed the Try China international recruiting company before creating MakerDAO.
The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. The supply of MKR is a dynamic value that changes depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million.
Maker tokens can be purchased on various cryptocurrency exchanges. However, it's important to do your research and choose a reputable exchange that offers security and transparency.
Maker tokens are primarily used for governance in the MakerDAO and Maker Protocol. Holders of MKR tokens have the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value.
As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market. This popularity and growth in the market are indicative of the potential and promise of Maker and its associated stablecoin, DAI.
In recent Maker news, the co-founder Rune Christensen has proposed an ambitious plan to make DAI, the platform's native stablecoin, a free-floating asset. This means that DAI would no longer be pegged to the US dollar, a significant shift in the platform's operations. The plan involves lending DAI against real-world assets to accumulate ETH, a popular cryptocurrency. This move is expected to take at least three years.
Maker has also been in the news due to its response to a significant hack. In August 2021, DAO Maker was exploited, resulting in the loss of 500,000 DAI. The stolen DAI was sent through the Tornado Cash mixing platform, a tool used to obscure the origins of cryptocurrency transactions. Maker has been working hard to improve its security measures in light of this event.
On the technological front, Maker has introduced a new trading strategy for its users. Known as a Trailing Stop, this strategy allows users to configure a percentage drop from peak market value that would trigger the full closing of their position. This tool can help users lock in profits and minimize losses, enhancing the trading experience on the platform.
Lastly, Maker has been expanding its reach through partnerships and collaborations. For instance, the cross-chain protocol Umee is launching DAI, allowing users to deposit Ethereum as collateral to mint DAI. Maker is also pursuing partnerships with non-crypto financial institutions, indicating its intention to bridge the gap between traditional finance and the crypto world.
Given these recent developments, those interested in where to buy Maker can look to popular cryptocurrency exchanges. However, it's important to stay updated on Maker news today, as the Maker price can be influenced by these and other factors.