Trade Analysis: MKR and DAI

30 September 2020 | ZebPay Trade-Desk

The ZebPay Trade team is proud to bring you MKR, yet another exciting token launch to add to our DeFi offerings.

Maker imbibes the characteristics of a smart contract, and is built on the Ethereum blockchain. Its key role is to support, and strengthen the value of the stablecoin, DAI. It employs a sophisticated and dynamic system of Collateralized Debt Positions (CDP), coupled with autonomous feedback mechanisms, as well as incentivized external participants.MKR tokens are brought into supply, and then eliminated, keeping the price volatility of the DAI in mind. The token’s main aim is to keep the DAI value as close to $1 USD as possible at all times.

In addition to that, MKR tokens are also used to pay transaction fees on the Maker system, and provides holders with voting rights. This enables users to play an active role in the development of the Maker smart contract, and it’s native token MKR.

Maker (MKR) Summary (at the time of writing):

Market Capitalization$515,419,617 USDCurrent Price$512.56 USD24 HR Volume $41,423,441 USDAll Time High/ Low $1,773.92 USD(Jan 18, 2018)$21.06 USD(Jan 30, 2017)ROI ( from ICO Price) 2,219.42%Total Supply 1,005,577 MKR

The Interdependence of the Maker Protocol and DAI:

Dai is decentralized and backed by collateral. It aims to empower, and facilitate greater security, transparency and trust towards the Maker Protocol, on which the DAI can be generated and traded.
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