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Maker (MKR)

Maker is an asset-backed decentralized “stablecoin” based on the Ethereum blockchain. Stablecoins are a revolutionary approach to digital money as they remove large price volatilities in the coins.

Maker’s autonomous smart contract system is designed specifically to react to market fluctuations, keeping the price of 1 Dai equivalent to US$1. Each Dai is backed by Ether tokens as collateral, and is secured with an Ethereum smart contract. In the event that the price of Ether drops below the predetermined threshold, the smart contract would automatically liquidate, keeping the collateral at a safe level and therefore preventing the Dai token from collapse.

By holding a MKR token, you become a member of Maker’s DAO and are entitled to certain rights as defined in Maker’s technical documents.

For a non-technical overview of Maker, see their whitepaper. For a technical analysis and more information on the functionality of the smart contracts, look into their purple paper. To read more about Maker see: “What is Maker”.

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