MKR (MakerDAO)

Project basic information

Issue Time:2017-01-29
Total Supply:1,005,577
Circulation :1,005,577
White paper:https://makerdao.com/whitepaper/DaiDec17WP.pdf
Block Explorer:https://etherscan.io/token/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2

Project Introduction

MakerDAO is a decentralized stablecoin platform, operating on the Ethereum blockchain. By staking the MKR token, users can vote on network specs and governance initiatives, including the stability fee, collateralization rates, and assets allowed to be used as collateral, etc. Users may deposit predetermined assets as collateral against which they may print the DAI stablecoin. The MakerDAO platform has built an infrastructure that aims to stabilize the price of DAI at 1 USD. When a user decides to deposit DAI stablecoins into her Vault and withdraw her collateral, she is also required to pay an interest, or stability fee, to the network. Stability fees are also used to buy back MKR tokens from the open market, which are subsequently burnt.