What is Maker (MKR)?
Maker is one the biggest and longest-standing DeFi protocols that run on the Ethereum blockchain. It is designed to offer a stable, decentralized, and scalable platform for borrowing and lending digital assets. Maker was introduced in 2014 by Rune Christensen, and had a highly successful fundraising campaign in 2017 that attracted $12 million from the likes of Andreessen Horowitz. Since then, it has grown to become one of the most popular DeFi protocols, with the current TVL of over $7.54 billion. The highest TVL of Maker was approximately $20 billion.
How Maker (MKR) Works
Maker's core product is the DAI stablecoin, which is the first stablecoin in the world and it is pegged to the value of the US dollar. Users can lock their digital assets as collateral and mint DAI in exchange. This creates a demand for DAI, which helps to maintain its stability. The Maker protocol uses a system of smart contracts to automate the process of generating and redeeming DAI. The system is governed by MKR token holders, who vote on proposals that determine the direction of the protocol.
The Maker protocol operates on a collateralized debt position (CDP) system, which allows users to lock up their digital assets and borrow DAI against them. The amount of DAI that can be borrowed is determined by the value of the collateral. If the value of the collateral falls below a certain level, the system automatically liquidates the CDP and sells the collateral to pay off the debt.
How Many Maker (MKR) Tokens Are in Circulation?
MKR is the governance token of the Maker protocol. Holders of MKR have the right to vote on proposals that determine the direction of the protocol. There are 1,005,577 MKR tokens in total supply, and the circulating supply is 977,631.
How to Buy Maker (MKR)
Consider investing in Maker (MKR)? It only takes 2 minutes to create an account on Bitget and start trading MKR.
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Maker (MKR) Resources
Simple 3-step guide to buying MKR today in Tunisia
Create your free Bitget account
Select a funding method
Complete your Maker purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Maker using a payment method of your choice:
Buy Maker with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Maker order.
How to buy crypto with credit/debit cardBuy Maker with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Maker is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Maker order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Maker order.Buy Maker with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Maker order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Maker in your Bitget spot wallet
Bitget—where the world trades Maker
How to buy Maker for free
- Learn how to earn Maker for free through the Learn2Earn promotion
- Earn free Maker by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Maker airdrops by joining On-going challenges and promotions
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FAQ
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