Hey Delta Squad!
We are about to make your life a whole lot better as we have officially listed Maker ($MKR) to the BitDelta spot market.
As the official crypto token of the MakerDao ecosystem, $MKR plays a pivotal role in the decentralised finance (DeFi) realm.
$MKR is a listed as a USDT pair on the platform with the trading ticker MKR/USDT.
Before rushing into trading $MKR on BitDelta, let's dive in and explore what Maker (MKR) is all about.
As the native token of the MakerDao ecosystem, $MKR plays a pivotal role in the decentralised finance (DeFi) realm.
It was created in 2015 by the MakerDao protocol as an ERC-20 governance token with a core a utility to allow holders to vote on the development of the MakerDao protocol.
MakerDao runs a dual-token model. This means it runs Maker (MKR) & Dai stablecoin in its ecosystem.
To participate in the governance of the Dao, holders of the MKR token must stake their MKR tokens to vote on proposed changes to the Maker Protocol.
Also, holders of this token can vote on the efficiency, transparency, and stability of the Dai stablecoin.
Holding MKR is somewhat similar to owning stock in a traditional company because the shareholders have a say in determining how the company functions.
The Maker ecosystem was one of the first DeFi projects to achieve significant success – a testament to the effectiveness of genuinely decentralised governance.
According to Coinmarketcap, MKR ranks #45, making it one of the top 50 valuable coins in the cryptocurrency market. At the time of writing, it has a market capitalisation of $1.77 billion. It has a total supply of $5,846,648,658, of which 922,863 MKR is in circulation.
Stay up to date with MKR via:
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This article is for informational purposes only and not intended as investment or financial advice. It contains opinions and speculations that are subject to change without notice.
The author and publisher disclaim any liability for decisions made based on the content of this article. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions.