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What is the issuance and circulation of MKR coins?
Maker (MKR) coins, capped at 1 million, are issued by MakerDAO, an autonomous organization that governs the Maker ecosystem.
Oct 04, 2024 at 06:11 am
- Issuance of MKR
Maker (MKR) coins are created and issued by the MakerDAO, an autonomous, decentralized organization. The total supply of MKR is capped at 1,000,000 coins.
- Circulation of MKR
The majority of the MKR coins are currently in circulation. A portion of the coins are held in reserve by the MakerDAO for various purposes, such as covering operating expenses or funding future development.
- Trading of MKR
MKR coins are traded on various cryptocurrency exchanges. The price of MKR is determined by supply and demand in the markets.
- Uses of MKR
MKR coins are used for several purposes within the Maker ecosystem:
- Governance: MKR holders have the right to vote on proposed changes to the Maker Protocol and the MakerDAO.
- Stability Fee Rebates: MKR holders can earn stability fee rebates on their DAI loans.
- Collateral Backing: MKR is used as collateral to back DAI loans, which helps to maintain the stability of the DAI peg.
- Value of MKR
The value of the MKR coin derives from its utility within the Maker ecosystem. The more people use MakerDAO and DAI, the more demand there is for MKR.
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