I don't understand the point of MKR at the moment. If it's a stable coin why does the price fluctuate so much. I feel like it defeats the purpose of a stable coin that you can use as a bridge when crossing digital currencies. MKR is down 5% on the weekly, so I just don't get how anyone would trust the as a storage point for their fiat or crypto.
MKR DAI offers something that no other stable coin can. It offers Ethereum users to put up ETH as collateral to margin trade on the MKR network. Not many people know about this function, let alone even know what the MKR network is. Crypto needs a legitimate stablecoin besides Tether. There are other stablecoins out there like USDC and Gemini Dollar, but MKR is actually built by the community for the community.
A decentralized stable / permanent coin is a good idea, and it has its advantages: anonymity in carrying out any operations, lack of political and geographical boundaries in making transactions, complete freedom of action in trade, competition with financial monopolists, and savings in the absence of taxes. Plans to use technology zk-SNARK, or ring signatures. The MKR Token is an investment tool, with the purchase of which it is possible to participate in polls and influence the choice of strategies for moving a project. By the way, MKR coins cannot be mined. On the similarity of Dai, pegged to the dollar, the developers plan to issue coins of the same plan, tied to the euro, pound and yen. Given the gradual development and further expansion of the platform, the prospects for long-term investment in Maker are highlighted. With the increase in the number of stable cryptocurrencies on the platform tied to fiatnom money, as well as increasing the relevance of the project at the user level, the cost of its tokens will inevitably grow.
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Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token - the Dai - against the U.S. Dollar. Dai is a cryptocurrency that is price stabilized against the value of the U.S. Dollar. Dai is created by the Dai...