What is MKR crypto?
How do the crypto MKR blockchain and the protocol function?
The Maker (MKR) protocol saw light at the very end of 2017. The primary mission of the Maker ecosystem is to operate DAI — a community-managed stablecoin with a soft peg to the USD. DAI holders receive this token after locking any other asset (such as Ethereum, for instance) in the Maker storage. Later on, they can redeem the DAI stablecoin in exchange for another token — but they need to realize that the protocol permits pricing fluctuations. The decentralized entity that administers the DAI stablecoin is called the Maker DAO. MKR tokens perform the voting function. Instead of receiving interest, the Maker holders enjoy their right to vote regarding the further updates of the Maker protocol. So, in relation to the Maker DAO and Maker protocol the MKR coin functions as the governance token. The price of Maker MKR is supposed to grow as the DAI stablecoin takes off.
Why you should buy Maker MKR?
What is the circulation of the MKR cryptocurrency?
To preserve its peg to the USD, the MKR crypto price requires complicated regulation mechanisms. There are no hard-code limits to the Maker DeFi token supply, and this is what differentiates it from most other assets on the market. Multiple interrelated algorithms control the emission and elimination of the Maker DeFi token. The ultimate goal is to ensure the collateralization of DAI stablecoin with third-party cryptocurrencies. At the moment of gathering these statistics, the circulating supply of the asset counted slightly over 1,000,000 MKR tokens. In the case of Maker, the circulating supply is equal to the total one. But this is a fluctuating parameter that might change rapidly, in relation to the condition of the DAI and the whole DeFI sector.
The fluctuations of the Maker MKR supply
When extra DAI tokens are added to the circulation, their holders deposit third-party cryptocurrencies as a pledge. This operation is executed with the help of smart contracts on the Ethereum blockchain.
If the aggregate estimate of the cryptocurrencies stored as the DAI pledge drastically decreases, the protocol automatically starts to liquidate the reserves. The received income is used to satisfy the debt. If the aggregate is not sufficient, the Maker protocol creates more MKR crypto to dispose of. Consequently, the supply of the Maker token grows.
In case the income from liquidating the DAI pledge successfully covers the obligations, the protocol buys MKR tokens back to burn them and thereby diminish the Maker supply.
The Maker protocol allows to mint the USD-pegged DAI not only with Ethereum but with 7 more coins. In the future, DAI holders should be able to use more coins as pledge.
Where to buy MKR
The Maker token is traded in around 180 pairs on both centralized and decentralized platforms. At the moment of this article being written, the majority of MKR tokens were concentrated on HTBC (over 36%). Besides, larger amounts of the Maker coin were available on Binance, BKEX and Uniswap.
However, you might want to purchase Maker at P2B. These are the primary benefits of buying and trading Maker MKR at this platform:
- There will be enough supply of Maker, Ethereum or any third-party cryptocurrency you would like to purchase.
- The price of MKR is always kept at a competitive level.
- You can purchase Maker either from your bank card, using USD or other fiat currency, or your crypto wallet.
- The multilingual support would be ready to answer any questions 24/7.
Besides, P2B offers a lucrative referral program to anyone who is interested in Maker or any other coin.
The essence of the referral program
To resort to this profitable program, you do not need to actively trade Maker on this site. Moreover, you do not have to do anything at all except inviting new users to the site.
Tell your friends about the perspectives of the Maker concept, the sustainability of the Ethereum protocol and the reliability of the smart contracts used for the pledge. Then, outline to them the advantages of the P2B exchange, as listed above.
Proceed to your user account to generate a unique invitation link. When a new user creates an account in the system with your link, you will start receiving commissions for every transaction they complete (not necessarily with Maker but with any coin). The more people you invite, the larger passive income you enjoy.
Conclusion about Maker
Hopefully, this information came in handy and now you have a better vision of the Maker ecosystem, the MKR token and the protocol that backs up this innovative concept. Purchasing Maker (MKR) today would be a reasonable decision that might bring you considerable income in the future. Tell your friends about the Maker protocol and start receiving passive income for inviting them to the P2B!