1. Basic Information
- The English name of Token: Maker
- Ticker of Token: MKR
- The Chinese name of Token: N/A
- Country of Incorporation: Cayman
- Investors: Polychain Capital, Gulu, James gong，Andreessen Horowitz, Polychain Capital, Wyre Capital, FBG Capital
- Industry&Facts & figures: Dai: the first decentralized stable coin on Ethereum. (Can be seen at dai.makerdao.com.)
2. Description
MakerDAO is the platform behind the first decentralized stable coin on Ethereum: Dai. MKR functions as the governance and fee token of the Dai Stablecoin Platform. It is used to vote on Dai risk parameters and used to pay stability fees by Dai generators.
3. ICO Details
Total available supply:1,000,000MKR (MKR is required for paying the fees accrued on CDPs that have been used to generate Dai in the Maker system. Only MKR can pay these fees, and when paid the MKR is burned, removing it from the supply. This means that if the adoption and demand for Dai and CDPs increases, there will be additional demand for MKR so users can pay the fees. It also means the supply will decrease as MKR is burned. If MKR holders are highly competent and govern the system well, CDPs will always remain overcollateralized and there will be no threat of insolvency to the system. However mistakes or unforeseen circumstances can happen, and as a result, it is possible that parts of the collateral portfolio become undercollateralized. When this happens the last function of the MKR token is triggered: automatic recapitalization through forced MKR dilution.) Tokens in circulation: 610,000MKR
4. Token Distribution
- Currently 39% in the development fund.
- 61% trading publicly on the market.
- 15% of the total supply is held by core team members.
5. Useful Links
- Official site: https://makerdao.com/
- Whitepaper: makerdao.com/whitepaper
- Contract Address: 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
- Explorer: https://etherscan.io/address/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
