Maker (MKR)

$4,485.19 (-16.77%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
42 $4,460,800,000.00 $442,651,000.00 994,562 MKR -- -16.77% -6.87% $752,166.36

Exchange Pair Volume (24h) Price
Coinbase Pro MKR/USD 43,441,887.00 4,548.3505000000
Digifinex MKR/USDT 57,317,463.00 4,539.0100000000
Uniswap (v2) 0X9F8F72AA9304C8B593D555F12EF6589CC3A579A2/ETH 10,763,579.00 1.3030286816
HitBTC MKR/BTC 29,498,628.00 0.1014400000
Balancer (v1) 0X9F8F72AA9304C8B593D555F12EF6589CC3A579A2/ETH 7,780,286.00 1.3018839435
Bancor Network MKR/BNT 1,713,678.00 703.2146405434 Exchange MKR/BTC 29,833,137.00 0.1011100000 MKR/CRO 64,423.00 30,547.6700000000
Sushiswap 0X9F8F72AA9304C8B593D555F12EF6589CC3A579A2/ETH 7,602,783.00 1.2982909547
Binance MKR/USDT 32,994,530.00 4,549.1200000000
Huobi Global MKR/USDT 10,631,216.00 4,549.9200000000
BtcTurk PRO MKR/TRY 5,350,211.00 38,442.0000000000
VCC Exchange MKR/USDT 20,073,723.00 4,569.0900000000
OKEx MKR/USDT 24,455,785.00 4,557.9000000000
VCC Exchange MKR/BTC 3,486,367.00 0.1013880000
Coinbase Pro MKR/BTC 4,240,599.00 0.1010000000
FTX MKR/USD 5,203,433.00 4,585.5000000000 MKR/USDT 276,757.00 4,546.2200000000
Binance MKR/BUSD 5,814,069.00 4,553.1500000000
XT.COM MKR/USDT 10,397,357.00 4,566.4405000000
BtcTurk PRO MKR/USDT 1,285,752.00 4,552.2000000000
Binance US MKR/USD 1,744,693.00 4,550.0000000000
Binance MKR/BTC 5,630,130.00 0.1010590000
Bithumb MKR/KRW 2,237,884.00 5,620,000.0000000000
P2PB2B MKR/BTC 409,681.00 0.1014020000
Dcoin MKR/USDT 24,785,288.00 4,535.3300000000
Binance US MKR/USDT 1,118,994.00 4,544.1500000000
FTX MKR/USDT 1,264,513.00 4,538.0000000000
Gemini MKR/USD 1,456,331.00 4,594.4900000000
WhiteBIT MKR/USDT 2,974,791.00 4,565.6000000000
HitBTC MKR/USD 11,098,413.00 4,543.3310000000 Exchange MKR/USD 11,105,782.00 4,550.1690000000
KuCoin MKR/USDT 1,161,176.00 4,535.5000000000
Paribu MKR/TRY 2,688,435.00 38,121.0000000000
Bitfinex MKR/USD 438,275.00 4,621.2000000000
CoinTiger MKR/USDT 1,476,679.00 4,552.2000000000
OKEx MKR/BTC 5,780,478.00 0.1011000000
BitZ MKR/USDT 11,601,442.00 4,507.9053000000
BHEX MKR/USDT 10,024,427.00 4,523.1400000000
BitBay MKR/PLN 524,967.00 17,386.3300000000
MXC MKR/USDT 605,656.00 4,537.3000000000
P2PB2B MKR/USD 519,737.00 4,562.2900000000 MKR/USDT 396,593.00 4,571.1300000000
CoinJar Exchange MKR/BTC 122,348.00 0.1014000000
AEX MKR/CNC 223,501.00 30,013.0000000000
CoinJar Exchange MKR/AUD 100,129.00 5,877.0000000000
Tokenize MKR/USD 4,995,000.00 4,500.8000000000
Tokenize MKR/SGD 134.54 6,010.2900000000
CoinJar Exchange MKR/GBP 184,156.00 3,012.0000000000
Virgox MKR/USDT 2,419,615.00 4,625.0600000000
Atomars MKR/BTC 11,697.17 0.1008100000
GokuMarket MKR/USDT 4,860,540.00 4,557.2957646200
Bilaxy MKR/USDT 277,781.00 4,560.9800000000
KuCoin MKR/ETH 112,178.00 1.3044000000
P2PB2B MKR/USDT 383,273.00 4,573.9800000000
GokuMarket MKR/BTC 4,378,943.00 0.1011651700
Atomars MKR/USDT 39,002.00 4,539.9200000000
KuCoin MKR/BTC 174,099.00 0.1014600000
CEX.IO MKR/USD 421,114.00 4,563.7000000000
Zipmex MKR/USD 12,333.81 4,546.1900000000
Zipmex MKR/THB 147,797.00 149,481.2200000000
HitBTC MKR/ETH 2,905,209.00 1.3019200000
BiKi MKR/USDT 984,979.00 4,554.1000000000
Zipmex MKR/USDT 11,628.93 4,580.6300000000
Zipmex MKR/AUD 11,057.58 5,953.0900000000 Exchange MKR/ETH 2,913,322.00 1.2999300000
Bibox MKR/USDT 278,922.00 4,566.8200000000
Emirex MKR/USDT 176,212.00 4,608.5500000000
Balancer (v1) 0X9F8F72AA9304C8B593D555F12EF6589CC3A579A2/USDC 106,438.00 4,652.5838250475
Indodax MKR/IDR 168,319.00 68,573,000.0000000000
Binance MKR/BNB 359,727.00 8.5240000000
ExMarkets MKR/USDT 2,744,808.00 4,553.0794000000
BitMart MKR/ETH 345,210.00 1.3087000000
Bibox MKR/ETH 770,893.00 1.2952002800
Okcoin MKR/USD 5,744.96 4,590.5000000000
Huobi Global MKR/BTC 437,390.00 0.1008990000
Huobi Global MKR/ETH 194,072.00 1.3014000000
Bitget MKR/USDT 1,532,452.00 4,540.0600000000
Bvnex MKR/USDT 1,157,438.00 4,552.3000000000
BTC-Alpha MKR/USDT 966,907.00 4,580.5200000000
Oceanex MKR/USDT 715,144.00 4,551.1000000000
KickEX MKR/USDT 417,623.00 4,565.2200000000
LATOKEN MKR/USDT 682,635.00 4,550.5400000000
AAX MKR/USDT 113,687.00 4,544.5600000000
Zipmex MKR/IDR 32,426.00 69,055,873.0000000000
Bibox MKR/BTC 712,349.00 0.1014295500
CoinEx MKR/BTC 6,622.76 0.1011745400
CoinEx MKR/USDT 42,038.00 4,556.6300000000
Bittrex MKR/ETH 28,584.00 1.2955235400
ExMarkets MKR/BTC 1,118,694.00 0.1011650000
Emirex MKR/BTC 43,891.00 0.1016830000
Abit MKR/USDT 1,910,950.00 4,563.5100000000
Bittrex MKR/BTC 124,637.00 0.1018705900 MKR/USDT 42,766.00 4,561.6500000000
Oceanex MKR/VET 2,466,739.00 26,763.0000000000
Bittrex MKR/USDT 92,339.00 4,560.5260000000
OKEx MKR/ETH 21,816.00 1.2920000000 MKR/ETH 23,150.00 1.3010000000
LATOKEN MKR/BTC 690,042.00 0.1010960000
ProBit MKR/USDT 794,749.00 4,574.9800000000


The MakerDAO network circulates two native tokens: DAI and MKR. DAI is a token that Maker aims to stabilize against the value of the dollar, and MKR is the DAO's native governance token. Dai is a currency token that seeks to maintain price stability against a specific peg, currently the U.S. dollar, to make it suitable for short-term and medium-term use as a unit of account and store of value. Tokens with these characteristics are commonly referred to as stablecoins. While fiat currencies like the dollar offer relatively low volatility, they are controlled by central parties like the Federal Reserve Bank and rely on the health of the local banking system for commercial use. Many users of cryptoassets consider user control and minimal volatility to be the holy grail of not just digital currencies but any currency. The maker project is seeking to reach this goal through the creation of the Dai token. The network consists of two components: Dai, which is a collateral-backed currency token whose value aims to be stable relative to the US Dollar, and Maker, a smart contract platform built on Ethereum that backs and stabilizes the value of Dai. Maker achieves this stability through a dynamic system of collateralized debt positions (CDPs), autonomous feedback mechanisms, and incentivizes for external actors. Maker allows anyone to leverage their Ethereum assets to generate Dai tokens on the Maker Platform. Once generated, Dai can be used in the same manner as any other cryptocurrency; it can be freely sent to others, used as payments for goods and services, or held as long-term savings. The MakerDAO system allows for Dai tokens to be pegged to the price of any asset, as decided by the networks underlying governance.


The MakerDAO system relies on two distinct tokens to create the Dai credit system. The Dai token (DAI) is a free-floating currency that is backed by collateral and pegged, currently, to the U.S. dollar. The Maker token (MKR) is a token that derives its value from the interest payments, called stability fees, which are paid by borrowers that create Dai tokens. MKR also plays the important role as the basis for governance decisions in the network. The Dai credit system acts similar to a decentralized lender, allowing users to lock up collateral in smart contracts and borrow DAI. A user that wishes to transact in DAI would send a specific amount of ETH to a contract which creates a collateralized debt position (CDP). Users can withdraw DAI from the contract at any time and similar to a line of credit, it is not required to withdraw the entire balance immediately. To retrieve collateral users repay the balance of DAI which they withdrew, along with an interest payment, called a stability fee, denominated in MKR. To hedge against a decline in the price of collateral users must overcollateralize these contracts. Currently, the network requires collateral of greater than 150% of the dollar value of the DAI borrowed. If the value of the collateral falls below 150% the CDP could be liquidated. This starts an auction process in which the assets of the CDP are sold in order to pay off the outstanding DAI loan balance, stability fees, and penalty fees. Holders of Maker tokens play two important roles in the MakerDAO system. First, they govern the network by voting on which types of collateral can be used, how much collateral must be posted, and any other changes to the network. Second, they act as a backstop in the case that collateral collapses before CDPs can be auctioned. In this extreme event new MKR tokens are created and sold off in order to stabilize the system. Maker token holders are incentivized to keep the network strong to avoid diluting their holdings. Third party network participants, known as “keepers” help maintain the price of DAI. Keepers are generally automated programs that take advantage of arbitrage opportunities to keep DAI nears its peg. They also participate in CDP auctions ensuring the orderly winddown of liquidated contracts. To allow the Maker platform to run in a decentralized manner a series of oracles are used to provide price data to smart contracts. Oracles provide information directly to contracts which can track the value of collateral, the target rate for DAI, and enforce liquidations for CDPs.

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