What is Maker?
Maker is mainly a governance token and is closely linked to the DAI stablecoin. Both are based on Ethereum and regulate a DeFi ecosystem for decentralised lending, launched in 2017 by a team initially supported by the Maker Foundation.
Why follow Maker?
Maker’s ERC-20 token is MKR, which fulfils governance functions for the decentralised MakerDAO organisation. The latter has total control of the protocol, having permanently replaced the Maker Foundation. The Maker token distributes decision-making powers to its owners; in particular, 1 MKR entitles them to a vote. This can then be spent to make choices regarding the management of the DAO, but above all, decisions concerning the protocol, such as the rate of the stability fee that regulates the price of the DAI stablecoin.
How was it created?
The man behind the Maker token and the services linked to the DAI stablecoin is Rune Christensen, a Danish entrepreneur with degrees in biochemistry and international economics. In 2020, the protocol’s popularity has increased exponentially. DAI and Maker now boast top-notch partners (both centralised and decentralised), with projects under development in the worlds of DeFi and GameFi.
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