Maker

It belongs to the DeFi sector (Decentralized Lending). It has traded since Feb 8, 2018, across 345 markets on 7 exchanges, with $153.40K of volume in the last 24 hours. Its all-time high of $6,274.47 was reached on May 3, 2021; the current price is 76.5% below that peak. Its cycle low of $503.89 came on Jan 3, 2023.

It is available on 5 networks.

Maker, now rebranded to Sky Protocol, is a self-described “Multi-Collateral Dai (MCD)” lending protocol designed “to bring stability to the cryptocurrency economy.” To achieve this, Maker employs a two-token strategy - MKR and DAI. MKR is the protocol’s governance token used to vote on various aspects of the protocol, such as technical upgrades, risk parameters, and collateral types. In contrast, DAI is the protocol’s collateral-backed stablecoin soft-pegged to the US Dollar (USD). Minting DAI via Maker entails over-collateralizing a loan with assets approved by MakerDAO via the protocol’s governance mechanism.