Cryptocurrencies

Text

What is MKR coin? Introduction to the issue price, total amount and white paper of MKR coin

MKR token holders have decision-making power in the MakerDAO platform through their governance rights.

Oct 02, 2024 at 02:24 am

What is MKR Coin?

MKR is the native utility token of the MakerDAO platform, a decentralized lending and borrowing protocol built on the Ethereum blockchain.

Key Features of MKR Coin:

Governance: MKR token holders have voting rights in the MakerDAO governance process, allowing them to participate in decision-making regarding platform policies, risk management, and new product development.
Collateral Stability Fee: MKR holders can use their tokens to vote on the Collateral Stability Fee (CSF), which is a fee charged to borrowers to maintain the stability of the MakerDAO system.
Stability Mechanism: MKR tokens are used to purchase and redeem Dai, the stablecoin issued by MakerDAO. This mechanism helps to stabilize Dai's value by creating a demand for MKR when Dai's price deviates from its peg.

Issue Price, Total Amount, and White Paper

Issue Price: The initial issue price of MKR was $0.0029 on May 27, 2018, through a private token sale.
Total Amount: MKR has a total supply of 1,005,577 tokens.
White Paper: The MakerDAO white paper, titled "The Maker Protocol: A Decentralized Credit System for the Blockchain Economy," was released in March 2018.

Conclusion

MKR is an essential component of the MakerDAO ecosystem, empowering token holders with governance rights and playing a crucial role in maintaining the stability of the Dai stablecoin. Its issue price, total supply, and white paper provide insights into the origin and technical foundation of the project.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

SHOGGOTH

$0.1250

50.00%

Trade Now
TON

$2.19

41.10%

Trade Now
HT

$0.5475

35.98%

Trade Now
BULL

$0.0786

34.65%

Trade Now
LUNA

$0.0763

26.40%

Trade Now
DEGEN

$0.0249

25.95%

Trade Now

Latest Crypto News

Infura Integrates Ethereum Validator Node Provider DIN Into EigenLayer's Actively Validated Service (AVS)
2024-11-15 12:55:01
Is XRP the Future Backbone of Global Finance?
2024-11-15 12:15:02
Qubetics ($TICS) Emerges as the Best Crypto to Buy Today, Pioneering a Decentralized VPN and Promising Jaw-Dropping ROIs
2024-11-15 12:15:02
Ethereum (ETH) Price Prediction: ETH Reached a Multi-Month High, Following Bitcoin's Rise
2024-11-15 12:15:02
Bitcoin (BTC) Price Stumbles 3% After Fed Chair Jerome Powell Hints Further Interest Rate Cuts Might Not Be Coming
2024-11-15 13:45:01
Shiba Inu: Meme Coin or Financial Revolution?
2024-11-15 12:15:02

Related knowledge

What is the investment prospect of INJ coins

Nov 12,2024 at 04:16pm

What is the Investment Prospect of INJ Coins?Introduction to INJ CoinsINJ coins are the native utility tokens of the Injective Protocol, a decentralized derivatives exchange platform built on the Cosmos blockchain. The Injective Protocol aims to provide a fast, secure, and scalable platform for trading derivatives, spot markets, and futures contracts. I...

Does INJ coin have a ten-thousand-fold potential

Nov 13,2024 at 01:26pm

Does INJ Coin Have a Ten-Thousand-Fold Potential?Determining the potential for astronomical growth, such as ten-fold expansions, involves evaluating a cryptocurrency's underlying fundamentals, market dynamics, and long-term prospects. In the case of INJ coin, an in-depth analysis of these factors reveals a path towards significant appreciation.Understan...

Does INJ coin have a thousandfold potential

Nov 11,2024 at 05:58pm

INJ Coin and Its Thousandfold PotentialIntroductionInjective Protocol (INJ) is a decentralized exchange (DEX) platform that enables trustless peer-to-peer trading of cryptocurrencies and derivatives. The platform is powered by its native token, INJ, which is used for governance, staking, and paying transaction fees. In recent years, INJ coin has gained ...

Does INJ coin have a hundredfold potential

Nov 13,2024 at 04:28pm

Does INJ Coin Have a Hundredfold Potential?In the realm of decentralized finance (DeFi), INJ coin stands out as a promising project with innovative features and significant growth potential. Its mission to revolutionize insurance industry through blockchain technology has garnered considerable attention from investors and industry experts alike. However...

What is the highest price of INJ coins in history

Nov 12,2024 at 03:04pm

What is the Highest Price of INJ Coins in History?INJ, the native token of the Injective Protocol, a decentralized exchange (DEX) built on the Cosmos blockchain, has experienced significant price fluctuations since its launch in 2021. While the cryptocurrency market is known for its volatility, INJ has consistently demonstrated strong performance, attra...

What wallet is good for INJ coins

Nov 14,2024 at 09:02pm

What Wallets Are Compatible with INJ Coins (INJ)?INJ coins, the native cryptocurrency of the Injective Protocol, are supported by several reputable wallets. Each wallet offers distinct features and advantages, catering to diverse user needs. Here's a comprehensive guide to the wallets compatible with INJ coins:1. Injective WalletOfficial wallet develope...