Info of Maker
Maker, a cryptocurrency that serves as the governance and utility token of the Maker Protocol, a decentralized lending platform on the Ethereum blockchain, allows users to borrow and lend cryptocurrency without intermediaries, credit checks, or centralized authority.
Maker has two main tokens: DAI and MKR. DAI is a stablecoin pegged to the US dollar and maintains its value through a system of smart contracts. MKR is a governance token that gives holders the right to vote on the rules and parameters of the Maker protocol, such as interest rates, collateral types, and risk management. Maker coin holders can vote on the development and risk parameters of the Maker Protocol, as well as benefit from the fees generated by the DAI system.
Maker was launched in 2015 by MakerDAO, a decentralized autonomous organization that oversees the Maker Protocol and its funds. Maker coin has a fixed supply of 1 million tokens, of which about 900,000 are currently in circulation. Maker coin uses a proof-of-stake consensus mechanism, which requires holders to stake their tokens to participate in and secure the network.
Investing in Maker coin can offer several benefits to investors who want to participate in the emerging market of decentralized finance (DeFi), which aims to create an open and transparent financial system that operates on blockchain technology.