Maker’s protocol is called MakerDAO, which stands for Maker Decentralized Autonomous Organization. Maker’s token MKR, is the governance token used to stabilize their stablecoin, DAI and keep it pegged to the dollar. Through this dual crypto approach, Maker reduces uncertainty and volatility.

Asset type Token
Name Maker
Symbol MKR
Standard ERC-20
Supported Protocols Ethereum
Manage your Maker assets

MKR details

MKR tokens are minted or burned depending on price fluctuations. They also allow their holders to participate directly in the process of governing DAI. Each person who holds Maker tokens can vote on a number of changes that can be made to the Maker Protocol. Their voting power depends on the size of their MKR stake.