- Category: Decentralized Finance
- Coin Launched: August, 2014
- Resources: White Paper
- Official Website: Maker
- Reddit: Maker
MAKER History / Information / Buying / Staking
The Maker protocol is an open-source project started in 2014 with the goal of creating a permissionless credit system that would allow users to take out loans collateralized by cryptocurrency.
HOW MAKER WORKS
Maker (MKR) is an ERC-20 token native to the Maker Protocol, a decentralised finance (DeFi) project which is also known as the Multi-Collateral Dai (MCD) system as it allows users to leverage assets to generate Dai – a community-managed decentralised cryptocurrency that tracks the price of USD. Maker acts as a governance token, so MKR holders get to vote on the development of the Maker Protocol and proposals affecting the use of Dai.
BENEFITS OF USING MAKER
Some of the benefits of using Maker are:
COLLATERALIZED DEBT POSITION
CAN YOU STAKE MAKER
You can soft stake Maker on Crypto.com and other major crypto exchanges.
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