Learn about the MKR token and the protocol that developed it, MakerDAO
Jun 07, 2023
MKR is the governance token of MakerDAO, the finance protocol that operates the DAI stablecoin. Both projects are based on the Ethereum blockchain and facilitate the use of tokens in decentralize...
More about MKR, MakerDAO's governance token
How does the MakerDAO project work?
DAO stands for decentralized autonomous organization. In practice, this means that the platform is managed and developed by the user community itself. It is an organizational model of the decentralized finance movement. MakerDAO is a project created to operate the DAI asset, a stablecoin that has its price tied to the dollar, 1 USD. To actively take part in the asset management, you must purchase MKR tokens.
What is the price of a Maker (MKR)?
As of June 2022, the price of an MKR was approximately 927 USD, with variations according to market supply and demand. The asset does not have a previously limited max supply, which indicates that new MKRs can be issued, making room for new people to join the protocol's governance.
MKR, DAO and DAI: what's the difference?
To avoid mixing up the names, remember that MKR is the governance token, DAO is the asset organization and management model and DAI is the stablecoin of this organization.
How to buy MKR?
MKR can be purchased on MakerDAO's own platform or through an exchange like Bitso. On our app or website you can purchase MKR and many other cryptoassets. With an initial deposit of 5 USD, you can convert your money into crypto easily, quickly and securely!