What is a Maker coin?
Maker network is a governance token that is highly famous for its unique identity of being a governance token. This governance token is also popular by its native token name MKR. The maker token works to regulate and recapitalize the maker network.
Maker coin has a maximum supply of 991 thousand coins and a circulating supply of 900 thousand coins. Today the the MKR coin price has come down by -13.0% in past 24 hours.
In terms of regulation, MKR coin holders are accountable for monitoring, participating, and voting on proposals or changes to ensure the overall health of the Maker protocol. Moreover, there are two types of polls which are in execution through smart contracts:
a) proposal polling and
b) executive polling.
The regulation is to estimate the consensus of the Maker community towards a proposal change.
It is an initial action, to ensure that proposals are qualitative before formal voting begins in executive polling. In that stage, MKR users officially vote to support or refuse a proposal. The smart contract address receives the highest number of MKR tokens and is then chosen as the active proposal. More details on polls are available in Maker’s whitepaper.
The secondary purpose of the MKR token is recapitalization. If system debt exceeds surplus, additional MKR tokens are mint by the protocol. Moreover, these coins are going for Dai through debt auctions to help bring the ecosystem back from insolvency. More information on recapitalization can be found on Maker DAO’s community development page.
Market to buy or sell MKR coins
MKR tokens are incredibly popular because of their unique features. Almost all the cryptocurrency exchanges are regularly trading in Maker tokens. Some of the highly famous and safe exchanges for trading MKR coins are Telcoin, BitTorrent, Ethereum, XRP, and chia. Moreover, the MKR coin is most actively trading on coinbase Exchange. For increasing your profits deal in various other profitable cryptocurrencies as well. To check the top ten profitable cryptocurrencies click here.