The Maker (MKR) token is the second token created by MakerDAO. Its main purpose is to support MakerDAO’s stablecoin, DAI while also enabling governance abilities for the Dai Credit System. As a governance token, those who hold MKR tokens can vote on and make a major decision that affects credit systems operation and future growth. MKR is both minted and burned in response to DAI’s price fluctuations. Hence, DAI can maintain a dollar-equivalent value using a collateralization system. MKR is an ERC-20 token that is stored on ERC-20 wallets.
The MKR price on YouHodler is aggregated from several different cryptocurrency exchanges in an attempt to provide the most accurate price possible. YouHodler combines MKR price rates from Binance, Kraken, Huobi, OKEx, and others.
To monitor MKR prices efficiently, we recommend downloading our app for iOS and Android compatible smartphones. This allows you to follow the latest MKR price anytime, anywhere. For real.
The MKR price constantly changes, however, our interest rates are stable as ever. Since 2020, our MKR savings account has featured 2.5% APR + compounding interest. Much higher than your local traditional bank.
There are many useful scenarios for a crypto-backed loan. Use it to hedge your portfolio in the event of an MKR price drop or simply use the growing value of your MKR price as collateral for instant cash. Either way, don’t sell your MKR. HODL, chill, and profit.
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