A price chart visually represents current market conditions, helping users analyze trading assets like cryptocurrencies. It displays trading volume, historical trends, and real-time rates—key details for understanding how much fiat currency (e.g., USD or EUR) is needed to acquire a crypto asset like Maker (MKR).
In exploring MKR’s price history, we uncovered a fascinating parallel: 2014 was pivotal for global events—from the MH-370 disappearance to the Scottish independence referendum. Yet, it also marked the birth of MakerDAO, a decentralized lending platform on Ethereum, and its governance token, Maker (MKR).
Let’s dive into MKR’s ecosystem, price trends, and where to buy it.
What Is Maker (MKR)?
Maker (MKR) is the governance and utility token for the Maker Protocol and MakerDAO, enabling users to manage the DAI stablecoin. Key components of the Maker ecosystem include:
- MakerDAO: A decentralized organization governing the protocol via MKR holder votes.
- Maker Protocol: Ethereum-based software for minting DAI.
- DAI: A collateral-backed stablecoin pegged to the US dollar.
- MKR: The token used for voting and stabilizing DAI.
👉 Discover how MKR compares to other DeFi tokens
MakerDAO
MakerDAO uses DSChief governance, where MKR holders vote on protocol parameters (e.g., collateral types, stability fees). Voting power scales with staked MKR tokens, incentivizing long-term participation.
Maker Protocol
This pioneering DeFi application lets users generate DAI by locking collateral (e.g., ETH). Managed by MakerDAO, it ensures DAI’s stability through algorithmic adjustments.
DAI vs. MKR
| Feature | DAI (Stablecoin) | MKR (Governance Token) |
|--------------|--------------------------|--------------------------|
| Purpose | Price stability (1 DAI = $1) | Protocol governance |
| Supply | Algorithmically adjusted | Fixed max supply (1M MKR) |
| Utility | Payments, savings | Voting, fee absorption |
Maker’s Founders and History
- Rune Christensen, a Danish entrepreneur, founded MakerDAO in 2015.
- The Maker Foundation (now dissolved) transitioned control to MakerDAO in 2021.
- The Dai Foundation safeguards protocol trademarks and copyrights.
How Maker Works
- Collateralization: Users lock ETH or other assets in Maker Vaults to mint DAI.
- Governance: MKR holders vote on system upgrades via on-chain proposals.
- Stability: If collateral values drop, MKR is minted/sold to cover DAI’s peg.
👉 Learn how to stake MKR for governance rewards
MKR Price History and Trends
- All-Time High: $6,292 (May 2021)
- All-Time Low: $168 (March 2020)
- Market Cap: $755M (as of 2024)
Key Drivers:
- DeFi adoption
- Ethereum network updates
- DAI demand
Where to Buy Maker (MKR)
MKR is available on top exchanges like:
- CEX.IO (PCI DSS-compliant, supports card purchases)
- Binance
- Coinbase
Steps to Buy MKR on CEX.IO:
- Log in → Navigate to Buy/Sell.
- Select MKR and enter amount.
- Pay via card/bank transfer.
FAQ
1. What is MKR used for?
MKR holders vote on protocol changes and absorb system risks to maintain DAI’s stability.
2. How is MKR created?
New MKR is minted via auctions if DAI’s collateral falls below requirements.
3. Is Maker a DeFi project?
Yes! It’s a decentralized lending/borrowing platform for generating DAI.
Final Tip: Monitor MKR’s price trends and governance proposals to make informed investment decisions.