Maker (MKR) is a crypto-currency platform in the Ethereum block chain that sells Dai chips and seeks to minimize its volatility, which became the first negotiable token in the network in August 2015 and subsequently the Maker platform was launched in April 2016.
Before its platform was released, funds were being issued through the exchange of Bitcoins and Ethereum by MKR tokens. In December 2017, the Maker network took a big step forward: it created an asset linked to the US dollar with a stable exchange rate of 1 for 1.
These coins have a stable character. Therefore, they are very useful in some financial markets of the economy, such as games of chance, international trade, transparent accounting systems and financial markets in general.
This intelligent contract platform stabilizes the value of the Dai bonus through the Collateralized Dept Positions (CDP) platform, therefore, there is a large reduction of large value fluctuations by mitigating the market risk of crypto-assets in comparison with all the other existing cryptocurrencies.
To access the Maker system, a CDP is created. Once the debt is paid, the user obtains full control over Dai. This also occurs when a customer converts his Ethereum coins to Pooled Ether (PETH). This process consists of four parts: Creation of the CDC, Generation of Dai, Reconciliation of debts, withdrawal of the guarantee; operates with the principles of the Digitally Autonomous Organization (DAO), which simply means that the platform uses artificial intelligence to control Maker’s ability to regulate and stabilize the Dai. However, the incorporation of human intelligence also plays an important role in this; symbolic holders hold meetings to formulate actions and implementations for the network.
The total supply of MKR in the market is 1 million, where the available chips in circulation are around 618,000. This implies that 61% of the total MKR offer is in circulation, where 15% is in the hands of the main members. The price of Maker currently stands at 969.08 US dollars, which means an average daily yield of 1.2%, with a market capitalization of 599,111,549 US dollars.
The mining of this cryptocurrency is quite peculiar, since the miners do not receive a reward for validating the transactions carried out through Maker, but the Makercoins are created when it is necessary to maintain the value of Dai stable, selling in the open market.
Despite its short life span, Makercoin has managed to maintain an upward trend, especially noticeable in December 2017, when it reached a market capitalization of over 600 million dollars.
The increase in the price of the MKR value is related to the confidence generated by the crypto currency Dai. It can also be based on the generalized fall in the market that makes investor funds derive to reliable projects with a significant base of followers.
Maker is ready to be the first smart crypto-currency, since its goal is stabilization and growth. Therefore, this means that the future application of financial activities using digital currency is about to be possible with the stability of Dai making Maker and Dai the best currency to be maintained.
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