Maker, the crypto
Maker (MKR) is a cryptocurrency that is used as a governance token for the MakerDAO platform. MakerDAO is a decentralized lending platform that enables its users to generate its stablecoin, DAI.
The main point of Maker (MKR) is to give its holders the power to vote on changes to the MakerDAO platform, including settings for its smart contracts, its monetary policy, and the addition of new collateral types. MKR holders also receive a portion of the fees generated on the platform.
Maker (MKR) attempts to solve the problem of volatility in other cryptocurrencies by creating a stablecoin (DAI) that is backed by a basket of different cryptocurrencies. By creating DAI, users can participate in blockchain transactions and investments without being exposed to the rapidly fluctuating prices of other cryptocurrencies. Additionally, by enabling users to create DAI, MakerDAO aims to make credit more accessible and affordable to people around the world.
We used an AI to answer three questions about MKR, so take this info with a grain of salt.