Maker (MKR)

Maker (MKR) is an Ethereum-based utility and governance token that runs on the Maker smart contract platform. MKR is used to stabilize another cryptocurrency called Dai through “a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms and appropriately incentivized external actors.” Holders of Maker vote upon adjustments to the platform in order keep Dai pegged to the value of 1 USD, and to keep the system solvent. If the Dai fund cannot remain solvent, new MKR tokens are printed and sold to fund the Dai system.

This entry was posted in . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *