The Maker Protocol is a software platform that allows users to trade DAI, Maker’s native stablecoin. DAI is soft-pegged to the US Dollar, so the value of one DAI token is equal to $1 USD. Holders of its other token, MKR–which is not pegged to any fiat currency, and is expected to increase in value based on the success of DAI–can vote on MakerDAO’s operating protocols and governance proposals. As of July 2020, MakerDAO has become “fully decentralized,” according to co-founder Rune Christensen.
What is Maker (MKR)?
Discover the key facts about Maker (MKR).
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Looking for more resources?
Why should nonprofits accept cryptocurrency donations? Less than 1% of nonprofits accept cryptocurrency donations. Fifteen years ago nonprofits were skeptical about credit card donations. Read more
6 Types of Cryptocurrency and How to Donate Them The Giving Block accepts more than 80 types of cryptocurrency that donors can use to support nonprofits and charities in a variety of ways. Read more
What is Cryptocurrency? A cryptocurrency is a form of digital currency that uses cryptography and blockchain to encrypt, secure, and verify transactions and proof of ownership. Read more
