Company name: Maker
Cryptocurrency [utility / governance token]: Makercoin / MKR (volatile)
Cryptocurrency [stablecoin]: Dai (pegged against the USD)
Price per unit of MKR (at the time of writing): ~660 USD, 2nd in the world after Bitcoin
Market capitalization of MKR (at the time of writing): ~480 million USD, 22nd in the world
Year founded: 2015
Founded by: Rune Christensen
“MakerDAO works using collateralized debt positions (CDP) on a decentralized platform. People can take out debt positions using our stablecoin, the Dai (1 Dai = $1). The Dai credit system uses tokens or assets to back up their value… Leverage seekers or borrowers put collateral, like Ethereum, into the system and generate Dai based on that collateral… MakerDAO and the MKR token use a decentralized governance structure to bring stability to our stablecoin, the Dai. We believe money and credit systems should be transparent, so no one can sneak in their own agenda.”
Support platform (Blockchain): Decentralized Autonomous Organization (DAO) on the Ethereum network
Structure: Collateralized Debt Position (CDP) + Target Rate Feedback Mechanism (TRFM)
Standard protocol: ERC-20
Top wallets: Ledger Nano S (hardware), Trezor (hardware), MetaMask (web), MyEtherWallet (desktop)
Recommended exchange platforms: Bitfinex, Bibox, Gate, Okex, Paradex
Mining: Not permitted
This week’s stats:
From all of us here at U.Today: happy trading and have a pleasant weekend!
Yuri Molchan
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