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Maker Price (MKR)

₹ 324199.8000000000 0.37 %

Low : ₹ 294732.0000 High : ₹ 307474.0000

Market Cap

₹283.02 B

0.1516 %

All Time High : ₹464833.0000

All Time Low : ₹12508.1300


₹10.88 B

Circulating Supply 924621
Max Supply 1005577

Maker (MKR) Price Live Chart

Maker (MKR)

Maker (MKR) serves as the governance token for both MakerDAO, a decentralized organization, and the Maker Protocol, a software platform operating on the Ethereum blockchain. The primary purpose of the Maker ecosystem is to manage and issue the DAI stablecoin.

The project was conceived in 2015 and officially launched in December 2017. DAI is a community-managed decentralized cryptocurrency designed to maintain a stable value pegged to the US dollar.

MKR tokens hold voting power within the Maker organization, enabling token holders to participate in decisions related to the development and governance of the Maker Protocol. While MKR tokens do not pay dividends, their value is expected to be appreciated based on the success and adoption of the DAI stablecoin.

The Maker ecosystem was among the early pioneers in the decentralized finance (DeFi) space. DeFi aims to create decentralized financial products and services using smart contracts on blockchain networks like Ethereum.


The founder of MakerDAO and the Maker Protocol, which issued the MKR token, is Rune Christensen. Rune Christensen is a Danish entrepreneur and developer who played a pivotal role in creating and launching the MakerDAO project in 2015. He has been a key figure in the development and growth of the Maker ecosystem and its governance token, MKR.

What makes it unique?

MKR's unique value proposition lies in its governance feature, which allows token holders to directly participate in the decision-making process for governing the DAI stablecoin. Each MKR token holder has the right to vote on various changes to the Maker Protocol, and their voting power is determined by the size of their MKR stake.

Some of the key aspects that MKR holders can vote on include adding new collateral assets to the protocol, adjusting risk parameters for existing collateral types, determining the DAI Savings Rate that impacts the profitability of holding DAI, selecting trusted oracles to provide off-chain data to the Maker ecosystem, and deciding on platform upgrades.

This ability to actively influence the management of one of the largest stablecoins in the market increases the demand for MKR tokens and, consequently, impacts their value. MKR holders' involvement in the governance process ensures a decentralized and community-driven approach to managing the DAI stablecoin, which is a fundamental factor contributing to the popularity and significance of MKR within the Maker ecosystem.

Network security

The Maker ecosystem's emphasis on decentralization, community governance, smart contract audits, and risk management measures contributes to its robust network security and resilience. However, it's important to note that no system is entirely immune to security risks, and continuous monitoring and improvements are essential to maintain a secure decentralized finance (DeFi) ecosystem. MKR is an ERC-20 token, meaning that it runs on and is secured by the Ethereum blockchain. Ethereum, in turn, is secured by its Ethash proof-of-work function.

Recent developments

Spark Protocol is a new initiative launched by MakerDAO that aims to give users direct access to a wholesale DAI credit line injected from Maker. Unlike the previous approach, where user-facing products were handled by third-party platforms, Spark Protocol will be owned initially by MakerDAO itself and may later be spun out into its own sub-DAO.

The protocol consists of two components: Spark Lend and its associated front-end interface. The smart contracts and front end were based on Aave's open-source codebase but customized to focus specifically on DAI, making it different from a general-purpose borrowing and lending market.

Spark Protocol will offer several advantages, such as obtaining liquidity directly from Maker at the cheapest rate possible, making it a compelling lending protocol. It will have a custom interest rate model set by governance, which remains flat regardless of utilization. Initially, the protocol will support ETH and stETH as collateral assets, with the potential to onboard additional liquid staked ether tokens in the future.

One distinctive feature of Spark Protocol is the availability of tokenized Savings DAI, allowing users to access and exit the DAI Saving Rate (DSR) from the Spark front-end. This opens up opportunities for holders of USDC to seamlessly access the DSR.

Decentralization is a key aspect of the protocol. While the front-end instance at will comply with relevant regulations in major jurisdictions, the code is open-source and can be downloaded and run by anyone, promoting a more decentralized approach.

Chainlink oracles are used in Spark Protocol instead of Maker's Chronicle price feeds, which enables live price feeds and loan-to-value ratios (LTVs) more in line with other secondary markets like Aave and Compound. The roadmap includes further hardening of the Oracle system with additional redundancy.

The launch of Spark Protocol aligns with the Endgame plan of transitioning Maker Core to a basic maintenance role while fostering innovation within sub-DAOs. Revenue generated by the sub-DAOs will flow back to Maker Core, benefiting MKR holders.

Overall, Spark Protocol is expected to contribute to the growth of the DAI and Maker ecosystem and bring new excitement to the Maker community.

Future developments

Not available 









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