What is MakerDAO (MKR)? Here is the Crypto Currency MKR Coin in All Details

What is Cryptocurrency
What is Cryptocurrency

. What is MakerDAO (MKR)? Here is the Crypto Currency MKR Coin in All Details – In this article, What is MakerDAO (MKR)? We will answer the question and try to present details about the project.

What is MakerDAO (MKR)?

MakerDAO is a decentralized stablecoin platform running on the Ethereum blockchain.

By staking the MKR token, users are charged the stability fee, margin rates and assets allowed to be used as collateral etc. network features and governance initiatives, including

Users can deposit predetermined assets as collateral and print DAI stablecoins against them.

The MakerDAO platform has built an infrastructure aimed at fixing the price of DAI at $ 1.

When a user decides to deposit their DAI stablecoins in their Vault and withdraw their collateral, they must also pay an interest or stability fee to the network.

Stability fees are also used to repurchase MKR tokens that are then burned from the open market.

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