Maker

Halal Rating :
Uncomfortable
Last Price $1,368 Last updated:
Rank 90
1D Change 0.63 %
Market Cap $1.22b
Circulating supply 890,181
Maximum supply 1,005,577
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Store Of Value
  • DeFi
  • DAO
  • Ethereum Ecosystem
  • Polychain Capital Portfolio
  • Governance
  • Lending & Borrowing
  • DragonFly Capital Portfolio
  • Electric Capital Portfolio
  • a16z Portfolio
  • 1Confirmation Portfolio
  • Placeholder Ventures Portfolio
  • Pantera Capital Portfolio
  • Paradigm Portfolio
  • Near Protocol Ecosystem
  • Arbitrum Ecosystem
  • Spartan Group
  • BNB Chain Ecosystem
  • Real World Assets
  • Standard Crypto Portfolio

Purpose and Utility

Maker (MKR) is a governance token that is part of the MakerDAO protocol, which operates the DAI stablecoin system. MKR holders can vote on protocol changes and risk parameters affecting the DAI ecosystem. The token serves a critical role in maintaining the stability of DAI through governance decisions and as a recapitalization resource if the system becomes undercollateralized.

Business Model

The MakerDAO protocol generates revenue through stability fees charged on DAI minting and liquidation penalties. While the protocol involves lending and borrowing mechanisms, which would typically be concerning from an Islamic finance perspective, the MKR token itself functions purely as a governance mechanism and does not directly participate in these lending activities.

Real-World Adoption

MakerDAO has significant adoption, with billions of dollars in collateral locked in the protocol. The MKR token is actively used for governance, with regular proposal voting and active community participation in decision-making.

Development Activity

The project maintains strong development activity with regular updates, protocol improvements, and a robust community of developers. The MakerDAO ecosystem continues to evolve with new features and integrations.

Token Distribution

MKR has a transparent token distribution with no pre-mine for founders. Tokens are primarily distributed through market operations and governance decisions. There are no concerning lock-up arrangements or vesting schedules that would indicate a scheme to enrich founders.

Crypto Impact

To assign a comfort level investing in Maker from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Maker.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Contribute