The current price of Maker is $1,672.30. Since 00:00 UTC, Maker has decreased by -1.32%. It currently has a circulating supply of 891,103 MKR and a maximum supply of 1,005,577 MKR, giving it a fully diluted market cap of $1.49B. At present, the Maker coin holds the 16 position in market cap rankings. The Maker/USD price is updated in real-time.
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In a push towards decentralization, governance tokens have emerged as a cornerstone of many crypto projects, allowing token holders to stake and vote on protocol modifications. MKR is the governance token for MakerDAO, which plays a pivotal role in ensuring the efficiency, transparency, and stability of DAI, a decentralized, collateral-backed stablecoin.
What is MakerDAO
MakerDAO is a decentralized autonomous organization (DAO) that administers the DAI stablecoin through the Maker Protocol. This protocol enables the minting and management of DAI stablecoins while maintaining their peg to the US dollar using over-collateralization and other mechanisms. The primary responsibility of MKR holders is to vote on changes to the Maker Protocol, which directly impacts DAI. MKR's governance role ensures that the protocol adjusts and evolves in response to the market's demands and potential risks.
The Maker team
Maker was created in 2015 by Rune Christensen, a Denmark-based entrepreneur. He graduated from the Copenhagen University with a degree in biochemistry. He also studied international business at the local Copenhagen Business School. Before founding MakerDAO, he co-founded Try China, an international recruiting company.
How does MakerDAO work
MKR holders are at the heart of the MakerDAO system, actively participating in Executive Voting. Successful votes translate into changes within the protocol. For instance, these token holders set the DAI savings rate, directly impacting the incentives for those who stake DAI. Contributors are rewarded for their active involvement.
MKR tokenomics
MKR tokens, capped at 977,631 in supply, are central to the MakerDAO ecosystem. They empower holders with governance rights, allowing them to shape the system's direction. Beyond governance, MKR is crucial in maintaining DAI's stability, ensuring its value remains pegged and resilient to market fluctuations. Notably, in situations of undercollateralization, MKR is auctioned to cover the deficit.
Furthermore, MKR tokens are used to settle stability fees, which are essentially interest charges on DAI loans. These MKR tokens are subsequently burnt, gradually reducing their overall supply and adding an element of scarcity.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 32K new posts about Maker, driven by 8K contributors, and total online engagement reached 25M social interactions. The sentiment score for Maker currently stands at 79%. Compared to all cryptocurrencies, post volume for Maker currently ranks at 0. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Maker.
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Posts
32,007
Contributors
8,016
Interactions
24,513,554
Sentiment
79%
Volume rank
#0
X
Posts
24,217
Interactions
3,912,472
Sentiment
74%
MKR FAQ
How is MKR different from DAI?
While both tokens are part of the MakerDAO ecosystem, MKR is a governance token, and its primary role is to oversee the protocol's operation and stability. In contrast, DAI is a stablecoin pegged to the US dollar, designed to maintain its value despite market volatility.
How is DAI's stability maintained?
DAI's stability is ensured through over-collateralization, liquidation processes, MKR governance, stability fees, and the DAI Savings Rate (DSR). Combined, these mechanisms help keep DAI's value close to $1.
What is the MKR price prediction?
While it’s challenging to predict the exact future price of MKR, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is Maker worth today?
Currently, one Maker is worth $1,672.30. For answers and insight into Maker's price action, you're in the right place. Explore the latest Maker charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Maker, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Maker have been created as well.
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