Maker

0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2

RANK
1
market cap
$537465350
Price
$537.47
change 24hr
-0.35%

Maker is a smart contract platform on the Ethereum chain that backs and stabilizes the value of stablecoin DAI through a dynamic system of Collateralized Debt Positions (CDP), autonomous feedback mechanisms, and appropriately incentivized external actors. MKR tokens are created or destroyed in accordance with price fluctuations of the DAI coin in order to keep it as close to $1 USD as possible, and is part of a fully inspectable system on the Ethereum blockchain. MKR tokens are also used to pay transaction fees on the Maker system, and provides holders with voting rights within Maker’s continuous approval voting system.

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