Company Profile: Maker. An Express Visit

Opinions
Fri, 11/09/2018 - 20:19
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Alexander Goborov
No opinions and rants, only straight facts about Maker, quick and easy to understand
Company Profile: Maker. An Express Visit
Cover image via U.Today

Company name: Maker

Cryptocurrency [utility / governance token]: Makercoin / MKR (volatile)

Cryptocurrency [stablecoin]: Dai (pegged against the USD)

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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:

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From all of us here at U.Today: happy trading and have a pleasant weekend!

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About the author

Alexander Goborov (MSc) is U.Today’s chief editor of analytics. Before joining our publication, he worked in research and education, and, briefly, as an academic ghostwriter.

His articles range from scientific to creative, among them those that came out in Journal of Language Learning, St Petersburg Times, and Kommersant.

At U.Today, he and his team specialize in the economic analysis of the Blockchain market, infographics, as well as interviews.