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Maker MKR

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1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
52W High price $5,029.36
52W High date 15th May 2021 (1 year ago)
All Time High (ATH) Date 3rd May 2021 (1 year ago)
ATH Price $6,292.31
% From ATH -74.71%
All Time Low (ATL) Date 16th Mar 2020 (2 years ago)
ATL Price $168.36
% From ATL 845.19%
Supply & Trading Volume
Trading Volume (24h) $75.07M
Total Supply 977,631.00
Max Supply 1.01M
Circulating Supply 901,310.00
Description

When discussing Maker, we need to talk about the MKR token. The MKR Token was developed by MakerDAO and it is now used to support the stability of MakerDAO’s DAI token. Alongside this function, it also enables governance on key decisions on the operation as well as the future of the ecosystem.

When discussing Maker, we need to talk about the MKR token. The MKR Token was developed by MakerDAO and it is now used to support the stability of MakerDAO’s DAI token. Alongside this function, it also enables governance on key decisions on the operation as well as the future of the ecosystem.

The unique part about MakerDAO Is the fact that it actually takes advantage of two tokens. These are MKR and DAI.

Now, DAI is a stablecoin that is designed to provide an alternative to volatile cryptocurrencies. The MKR token on the other hand is used to keep DAI stable. The interesting part here is the fact that traditional stablecoins typically tend to use reserves of FIAT currencies (USD) or gold to peg a cryptocurrency to the value of a real-world asset, and this, in turn, keeps it stable. Well, MakerDAO uses the MKR token to stabilize DAI.

The MKR Token Explained

When we look into MKR, this token is intended to help keep the other token, the stablecoin DAI at the same value as $1. MKR can be created as well as destroyed in response to the price fluctuations of DAI in order to maintain its dollar-equivalent value.

The holders of MKR gain voting rights on the Maker platform’s approval voting system, where MKR voters can vote on things such as the collateralization rate of the CDPs.

For this participation, they gain MKR fees as a reward, and the holders are incentivized to vote in a way that benefits the system. If the system works efficiently then the value of MKR is maintained or increases as a result, while on the flip side, if it does not, the value drops. MKR is an ERC20 token that is constructed through the usage of Ethereum protocols.

Features of Maker

DAI uses a system of collateralization, where holders can act as part of the controlling mechanism which helps manage the network.

DAI is issued when buyers end up purchasing a smart contract-based collateralized debt position that acts as a loan. This is bought with Ether (ETH) and DAI is given as a response to this purchase. ETH acts as the collateral. The system allows individuals to obtain a loan against their ETH holding, and when the loan is repaid, the DAI is destroyed, and fees occur in MKR.

The MKR token is essentially a solution for the case where the price of ETH falls quicker than the DAI system can handle, and if the collateral system isn’t enough to cover the value of DAI, then MKR is created and then sold to the market to raise the additional collateral which is missing. The Maker Platform was actually formerly known as MakerDAO and is the protocol as well as the governance framework for DAI and MKR. It is a decentralized autonomous organization (DAO) on the Ethereum blockchain.

Founders of Maker (MKR)

When it comes to the founders, MakerDAO, which is the first in the Maker ecosystem, was developed in 2015 by Rune Christensen, which is an entrepreneur.

The interesting part about Christensen is the fact that he has a degree in biochemistry, however, also studied international business. Before he started work on MakerDAO however, he co-founded and managed the Try China international recruiting company.

1.1 Insights

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2. Price

MKR/USD

2.1. Market Performance

How does Maker's (MKR) performance compare to the median performance for assets of a similar market capitalization?

30 Day Return

-17.7%

MKR

-32.1%

Similar Market Cap

60 Day Return

-11.3%

MKR

-28.3%

Similar Market Cap

1 Year Return

-66.9%

MKR

-52.0%

Similar Market Cap

3. Developer Activity

We're monitoring 276 Maker GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.

Weekly Commits (All Maker Repos)

Commits vs. The Market

  • Past 4 weeks: 378 commits vs. an average of 2
  • Past 12 weeks: 1,560 commits vs. an average of 28
  • Past year: 6,959 commits vs. an average of 489

Most Active Repos

Past week 136
Past 12 weeks 291
Past year 1306
Past week 44
Past 12 weeks 172
Past year 837
Past week 68
Past 12 weeks 122
Past year 691
Past week 1
Past 12 weeks 1
Past year 528
Past week 0
Past 12 weeks 0
Past year 446
Past week 18
Past 12 weeks 98
Past year 436

Top Developers 2022

In total, 562 developers have contributed to Maker over the past year. Who are the most active Maker developers, by commits, over the past year?

Related Projects

Developers working on Maker also worked on these projects.

4. Social Activity

Tip: Toggle each network by clicking the name above

Historic data is only available from 22nd April 2022

Total Followers

Reddit Subscribers 33,704
Active Reddit Users (past 24h) 316
Discord users 5,778
Active Discord Users 957
Telegram Users
Twitter followers 215,489
5. News
6. Investment

Investors

Who are the funds and individuals that invested in Maker?

Funding Rounds

Maker has raised $54.5M across 7 funding rounds, between September 2017 and April 2020.

Amount / Round Date Investors
- / - 2 years ago 1
$27.5M / - 2 years ago 2
- / - 3 years ago -
- / - 3 years ago 2
$15.0M / - 3 years ago 1
- / - 2 years ago 1
$27.5M / - 2 years ago 2
- / - 3 years ago -
- / - 3 years ago 2
$15.0M / - 3 years ago 1
$12.0M / - 4 years ago 9
- / Seed 4 years ago -
7. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://makerdao.com/
Explorer https://etherscan.io/token/0x9f8f72aa9304c8b593d55...
Twitter @MakerDAO
reddit /r/MakerDAO

What is the correct contract address for Maker?

0x050317d93f29d1ba5ff3eac3b8157fd4e345588d
Sora 0x00ec184ef0b4bd955db05eea5a8489ae72888ab6e63682a15beca1cd39344c8f
Ethereum 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
Avalanche 0x88128fd4b259552a9a1d457f435a6527aab72d42
Arbitrum-one 0x2e9a6df78e42a30712c10a9dc4b1c8656f8f2879

Has Maker been audited for security?

No security audits found for this project.

Are you the owner of Maker? Edit it here

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