Maker (MKR) - a cryptocurrency sold on forums, is a hit today

We have got used to the fact that tokens entering the cryptocurrency market are first offered as part of the ICO. In the case of crypto Maker it was completely different, because it was sold, among others on ... internet forums. What might at first appear to be cottage industry and clunky operations translates today into a project with a capitalization of more than $ 2,3 billion.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Maker - a cryptocurrency that is to guarantee stability on the market and has permanently entered the top cryptocurrencies with the largest market capitalization.

Maker platform

Maker is to stabilize the market by acting completely opposite to Bitcoin i Ethereum. Dai was created for this purpose Stablecoin, which is the safe equivalent of the US dollar, and Maker is a platform based on the Ethereum network. It uses Collateralized Debt Positions (CDP), a mechanism that uses its users' transactions to stabilize the market.

How it's working? Token Maker allows you to generate DAI cryptocurrency on the Ethereum platform. After the creation of DAI, it is now a classic cryptocurrency with all its advantages. So you need a Maker to create a DAI, which can be used both on the Maker platform and exchanged for other cryptocurrencies and fiat currencies, you can simply sell it, pay for a product or service or exchange it for other means of payment. 

You can also take loans on the Maker platform. To do this, you must first generate a DAI by locking your resources in Ethereum. Therefore, new, generated DAI tokens are transferred to our account, and the corresponding digital assets in Ethereum constitute a kind of collateral. A stability fee is always charged automatically, which, for simplicity, we can call the loan interest. A smart contract will not allow the repayment of the loan to be threatened at any time due to lack of coverage in the funds deposited. The same applies to the stability fee - it is always calculated in real time and the amount deposited must ensure the security of the transaction. So there is no room for combinations or planned frauds, or even mistakes - the mathematical formula determines everything.

DAI is also an easy replacement for USD thanks to smart contracts, so it offers a lot of possibilities. 

Maker - platform and cryptocurrency without ICO

Interestingly, during the creation of the Maker cryptocurrency in 2017, there was no public fund-raising to launch the project. Today, cryptocurrency creators are outdoing each other in reports on how quickly they have managed to amass millions from institutional investors. The first Maker tokens, on the other hand, were distributed on industry online forums, such as Bitcointalk or even Reddit, and were bought directly from developers. Only then did they hit the cryptocurrency exchanges. 

Maker cryptocurrency rate and quotes

As of February 24, 2021, 1 units of the Maker cryptocurrency are in circulation, which means that the market saturation has already reached 003%. The valuation of $ 154 translates into an astronomical capitalization of $ 100. Token Maker can currently be traded on as many as 2 cryptocurrency exchanges around the world. We had the peak of trading on February 369,83, 2, when each unit was paid USD 377.