$MKR

MKR Token, fully known as Maker, is the governance and utility token (dual-purpose token) of the MakerDAO system, issued on January 30, 2017. MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum, providing the first decentralized stablecoin DAI on Ethereum. DAI is a hard currency backed by collateralized digital assets, pegged to the US dollar at a 1:1 ratio. MKR is used to pay stability fees for borrowing DAI and to participate in the governance of the system. Unlike the DAI stablecoin, MKR's value is closely related to the performance of the entire system due to its unique supply mechanism and role on the Maker platform. The decentralized stablecoin DAI has key applications in collateralized loans, leveraged trading, hedging, international remittances, supply chains, and government public accounting.

The main purpose of MKR is to create a tool for atomic value storage and exchange that operates based on dynamic collateral technology, internal market forces, and DAO governance mechanisms. MKR tokens can be held and traded, and can also be used as collateral and to adjust collateral fees to obtain other stablecoins, such as DAI. MKR grants holders governance and control power within the MakerDAO community, meaning that MKR holders can propose and vote on policies related to the decentralized autonomous organization. Holders of MKR are one of the most important roles in the MakerDAO system, as their votes directly affect the issuance and management of the stablecoin DAI.

One of the advantages of MKR is its stability, with its value pegged to the US dollar, minimizing the impact of market volatility. MKR is also decentralized, with no centralized institutions or banks controlling it, but rather managed by community voting and decision-making. Furthermore, MKR holders can also receive rewards similar to earnings or dividends. MKR is primarily used within the MakerDAO ecosystem as collateral for the stablecoin DAI. DAI itself is a cryptocurrency that can be used on any blockchain that supports Ethereum. The value of DAI is equivalent to the US dollar, supported by the collateral of MKR, which is decentralized without intervention from centralized institutions or banks.