Maker Price for today is $583.384. Its current circulating supply is MKR 1,003,372.84 with a market cap of $585,351,231.52.
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Maker is a platform that uses smart contracts to maintain the stability of the DAI stable coin. MKR token serves as a critical stabilization factor of the ecosystem. Balance is achieved through algorithmic creation and token burns, depending on market price movements. While stable coins are not a new concept, this is the oldest one that runs in a transparent and decentralized environment. It was created in 2014 as a permissionless protocol and has since grown exponentially.
Today, Maker tokens and DAI coins trade on multiple platforms, including ChangeNOW.io, a platform where you can perform Maker exchange fast and easily. There is no maximum supply since it is produced depending on the prevailing market conditions. If you are interested in Maker market dynamics, you can check out our 2020 Maker price prediction.
One of the critical features of the Maker platform is transparency. Unlike centralized, stable coins, new Dai stable coins come to the market through collateralized debt positions on smart contracts. The process is open, and token holders have the right to vote on everything, including the collateralized debt rates. This platform also guarantees price stability no matter the market conditions.
The working mechanism is pretty simple; in that, value is maintained through ETH collateralized loans. If the markets become unstable and the worth of ETH collapses, the system stabilizes by creating new MKRs. They are then sold in the market to increase the amount of collateral for the loans already offered.
Another key feature of the Maker is that it is at the forefront of DeFi. Through its collateralized debt system, the unbanked can access DAI to convert to any currency of choice. The conversion is easy, as there are multiple platforms to do it. Among them is ChangeNOW.io, a highly-rated Maker converter, where you can perform MKR exchange easily at competitive rates.
Sometimes you need a way to exchange Maker to other coins, or cash. The transaction can be for trading, or to get money for whatever reason. To convert MKR, you need a service that is fast, easy to use and has low fees. Try using ChangeNOW.io as your personal MKR converter as it offers all of that, and you can exchange MKR without registration and with no upper limit.