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What is Maker all about
MakerDAO is an automated platform or decentralised autonomous organisation (DAO) running on Ethereum blockchain. Maker has its own utility and governance token Maker (MKR) and a stablecoin named (DAI) running in its ecosystem. MakerDao was one of the first DeFi protocols and the first DAO to ever launch. It is partnered with companies like Swarm, OmiseGo, L4, and Switchain.
Maker allows users to borrow and lend cryptocurrency without any credit checks. All the processes are automated with the help of smart contracts. Ethereum blockchain along with its smart contracts also help in keeping the ecosystem transparent and eliminating the need of trust to any party.
MKR holders are able to participate in the governance. Active Proposal smart contracts help in decentralized governance and ensuring transparency throughout the platform.
In the Maker platform, users borrow DAI (stablecoin) in return of other cryptocurrencies they are keeping as collateral). Users need to provide more collateral than the actual amount they want to borrow. This is called overcollateralization. Users lock up their cryptocurrencies (supported on Maker platform) in collateralized debt position (CDP). Users provide 1.5 times the value of their position for collateral.
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MKR Questions & Answers
What is the current price of Maker?
Price of Maker right now is 2131.11 Euro.
What was the highest ever price of Maker?
The price of Maker reached its highest point on 2021-05-03, at 5215.61 EUR.
Is Maker expected to increase in value 1 month from now?
Based on our prediction, we suspect that Maker's price will reach between €2058.35 and €2901.18 in 1 month.
How much will Maker cost 6 months from now?
Long-term forecasts are extremely difficult to make, but based on our short term prediction we estimate the value of Maker will reach between €2020.96 and €4251.69 in half a year.
What will Maker be worth in 3 months time?
In accordance with our short term price prediction we estimate that the cost of Maker will reach anywhere between €2020.96 and €3262.64 in three months.
Does Maker have a large following on online?
31041 users were engaging via Reddit, in an online discussion about Maker in the last 2 days. Maker's official Twitter profile currently is followed by null users.