Maker Dao (MKR) Price

Maker (MKR) has been rebranded to Sky (SKY). For more information, please visit this post. (getButton) #text=(Click Here)

Info

Contract Address

ETH 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2

(getButton) #text=(Makerdao.com) (getButton) #text=(Etherscan) 

(getButton) #text=(Twitter) (getButton) #text=(Github) 

About MakerDao (MKR)

Maker is a smart contract lending platform that enables users to take out loans by locking-in collateral in exchange for Dai. It was founded by the Maker Foundation in 2015 as an open-source project to offer economic freedom and opportunities to anyone, anywhere. In 2017, it launched the Maker governance token (MKR) and its first stablecoin iteration known as the Single Collateral Dai (SAI), which used Ether (ETH) as collateral.

Two years later in 2019, the Foundation released the Multi-Collateral Dai (DAI), phasing out SAI. The platform has enjoyed widespread adoption and is the largest decentralized lending platform with around $2.58 billion in total value locked (TVL), as of December 2020.

The Maker token has two core functions: i) governance and ii) recapitalization. In terms of governance, MKR token holders are responsible for monitoring, participating, and voting on proposals or changes to ensure the overall health of the Maker protocol. This is done via two types of polls which are executed through smart contracts: i) proposal polling and ii) executive polling.

The former is used to gauge the consensus of the Maker community towards a proposed change. It is a preliminary step, conducted to ensure that proposals are well thought out before formal voting begins in executive polling. In that stage, MKR holders officially vote to approve or disapprove a proposal. The smart contract address which receives the highest number of MKR tokens is then elected as the active proposal. Further details on polls can be found in Maker’s whitepaper.