Maker

Halal Rating :
Questionable
Last Price $1,654.85 Last updated:
Rank 71
1D Change 0.09 %
Market Cap $1.47b
Circulating supply 891,079
Maximum supply 1,005,577
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Store Of Value
  • DeFi
  • DAO
  • Polychain Capital Portfolio
  • Governance
  • Lending & Borrowing
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  • Near Protocol Ecosystem
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  • Spartan Group
  • BNB Chain
  • Real World Assets

Overview

Maker (MKR) is the governance token of the MakerDAO protocol, one of the oldest and most established decentralized finance (DeFi) platforms on Ethereum. The protocol enables users to generate DAI, a decentralized stablecoin, by depositing various cryptocurrency collateral types.

Intended Utility

MKR serves as the governance token for the MakerDAO protocol, allowing holders to vote on various protocol parameters, including stability fees, collateral types, and risk parameters. MKR holders are effectively the decision-makers for the protocol's operation and development.

Actual Utility

The token is actively used for its intended governance purpose, with regular voting participation from MKR holders on protocol changes and updates. As of 2024, MakerDAO maintains significant on-chain activity and continues to be one of the largest DeFi protocols by total value locked (TVL).

Token Distribution

The MKR token supply is not concentrated in the hands of founders or early investors. The majority of tokens are distributed across various holders and the DAO treasury. The protocol operates in a genuinely decentralized manner with active community participation.

Development Activity

MakerDAO maintains strong development activity with regular updates and improvements to the protocol. The project has a proven track record since its launch in 2017 and continues to evolve its governance and operational mechanisms.

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.

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