At the time the Ethereum project was born, skeptics criticized blockchain for the fact that the price of assets was taken «from the ceiling» and was not backed by anything real. There was a desire to create a stablecoin — a cryptocurrency whose price would be tied to the price of real assets, such as precious metals. The first such coin developed (based on Ethereum) was called Maker, also called Dai. The project also has its own token called MKR.
Maker Token Economics
The question seems obvious, why did the developers create MKR if there already exists a stable working Dai? The answer is customary — to attract financial investments. The owners of MKR act as ordinary shareholders, with the only difference being that it is not a standard JSC, and Maker is a decentralized company. Being a shareholder is very profitable because coin holders are the highest authority in the system and determine the company’s policy, as well as all related matters. Of course, like in any standard JSC, they are entitled to dividends. So the owners of the tokens, like all people, are interested in the project gaining strength. It is not possible to mine MKR.
MKR was added to crypto-exchanges on January 29th of last year at a price of $22.1 per token. At the moment the price is $452.8 and market capitalization is $329,765,898. 1 million coins have been issued and 728,228 coins are in circulation.
Maker project team
A large team of specialists, more than 50 people, work on the project Maker. The project manager, Rune Christensen, is not very well known. But one thing is for sure: Christensen is a competent and experienced expert in technical security issues, ready to take on the problems that a company may face. Also, the administrative backbone is made up of technical director Andy Milenius, researcher Nikolai Mushegian, and product manager Soren Peter Nielsen. These people coordinate the activities of developers and PR employees and also control the financial component of the project.
Stablecoins, according to many experts, have a beneficial effect on the market and promote decentralization, independence, and anonymity of transactions. Moreover, they greatly simplify the understanding of cryptocurrency for ordinary people and contribute to the development of international trade. Therefore, we can confidently say that the Maker project will continue to actively develop, and the token’s price will grow.