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Maker Overview
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About Maker
The Maker Protocol, built on the Ethereum blockchain, enables users to create currency. Current elements of the Maker Protocol include the Dai stablecoin, Maker Collateral Vaults, Oracles, and Voting. MakerDAO governs the Maker Protocol by deciding on key parameters (e.g., stability fees, collateral types/rates, etc.) through the voting power of MKR holders.
The Maker Protocol, one of the largest decentralized applications (dapps) on the Ethereum blockchain, was the first decentralized finance (DeFi) application to earn significant adoption. As part of the transition to Sky, governance functions will gradually be integrated into the new SKY token, while USDS will serve as the next phase of MakerDAO’s stablecoin model.
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Learn About Maker
MakerDAO Explained Without the Jargon That Confuses Everyone
MakerDAO showed software could do what banks do. It now services over $7.8 billion in stablecoin liabilities across DAI and USDS. Real-world assets make up 14% of reserves and have earned $35.7 million in revenue over 14 months. MKR buybacks hit $102 million since February 2025 before being cut 87% in March 2026. Here's how the protocol actually works, who governs it, and what the Sky rebrand means.
Onyxcoin Price Prediction Through 2027 Based on Stablecoin Mechanics
XCN is used in the Onyx system as the gas token for transactions on the Onyxcoin network. You can get around 25.02% APY after fees when you stake XCN on the Goliath testnet. Stakers also get to help decide what happens in the Onyx DAO. These features change how much demand there is and how many transactions happen on the network.
Often Discussed Alongside Maker
Tokens that appear with Maker in our academy articles.
Maker Market Data
The live Maker price today is $1,898.61 USD with a 24-hour trading volume of $5,300.38 USD. We update our MKR to USD price in real-time. Maker is up 0.38% in the last 24 hours.
The current market cap is $155,211,323.72 USD, ranking #167 by market capitalization. The circulating supply is 82,037 MKR.