Maker (MKR) was first imagined along with Maker Dai and went live on December 18th of 2017.
MakerDAO is an ERC20 token on the Ethereum blockchain. It operates as a decentralized autonomous organization designed to remedy some of the volatility in its partner stable coin Dai (DAI) against the U.S Dollar. Contrastingly, Maker itself is highly volatile, it is a utility token and its price increases with the usage of Dai rendering it subject to extreme fluctuations.
The utility of Maker is that token holders can vote on risk management and the business decisions of the broader Maker system. Maker has a total supply of 1,000,000 tokens and cannot be mined, but is available for purchase on multiple exchanges.
MKR Price Update
The price of Maker (MKR) today is $592.44 USD, which has decreased by -50.19 (-7.81%) over the last 24 hours. The total number of MKR tokens in circulation stands at 1,000,000 and $7,130.87 USD has been traded for the MKR-USD pair across exchanges over the last 24 hours.