Maker (MKR)

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol.

MakerDAO is a decentralized organization while Maker Protocol is a software platform, that allows users to issue and manage the DAI stablecoin.

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol.

Maker Protocol enables over-collateralized loans by locking ETH in a smart contract and minting Dai, a USD-pegged stablecoin. Dai can be traded and used for payments.

MKR is minted & burnt depending on the debt status of MakerDAO. If the financial resources of the protocol cannot cover its debt, new tokens are minted. If there is a surplus, tokens are burned.

To vote on proposals users need to own MKR, or have it delegated to themselves. Then you need to create a voting contract and lock MKR tokens in it.

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