Maker (MKR) is one of the most potentially valuable coins in all of cryptocurrency. Maker is part of a system that creates crypto’s most rock-solid stability coin, which is always locked at $1 in value.
Maker is a smart contract platform on the Ethereum chain that backs and stabilizes the value of stablecoin DAI through a dynamic system of Collateralized Debt Positions (CDP), autonomous feedback mechanisms, and appropriately incentivized external actors. MKR tokens are created or destroyed in accordance with price fluctuations of the DAI coin in order to keep it as close to $1 USD as possible, and is part of a fully inspectable system on the Ethereum blockchain. MKR tokens are also used to pay transaction fees on the Maker system, and provides holders with voting rights within Maker’s continuous approval voting system.
ANALYSIS OF MAKER (MKR) IN TERMS OF VOLUME OF TRADE
The monthly trading volume of Maker is 2,841,838 on May 28,2020.And 11,742,149 on June 27,2020.The difference in monthly trading volume within this duration is 8,900,311.The increase in percentage trading volume is 75.798 percent.
WEEKLY ANALYSIS OF MAKER (MKR) IN TERMS OF VOLUME OF TRADE
The weekly trading volume of Maker is 11,742,149 on June 28,2020. And 7,379,970 on June 21, 2020.
The differerence in weekly trading volume is 4,362,179.The increase in weekly percentage trading volume is 59.108 percent.
PARTNERSHIP IN MAKER (MKR)
MakerDAO Integrates with Request Network to Promote Stability in Cryptocurrency Finance
MakerDAO and Request Network are thrilled to announce a strategic partnership that will integrate our stablecoin, Dai, into the financial dApps built on top of the Request Network. In doing so, this partnership continues to push Maker’s vision of unlocking the power of the blockchain to create economic empowerment. Dai will be one of the first five ERC20 tokens supported on the Request Network when ERC20 support officially hits their mainnet this month.
Beginning with Dai, our decentralized stablecoin, Request is enabling future payments on the blockchain to be secure and easy. Price stability on the blockchain is one of the most challenging blockers to widespread adoption of cryptocurrencies. Dai solves this through a fully decentralized stablecoin which has been live and stable since it’s launch.
Request Network Foundation is driving adoption of blockchain by providing a payments framework which allows everyone to develop their own decentralized financial application based on the Request Network technology. They are supporting project grants through the Request Fund. Allowing developers to incorporate Dai into their products will make sure the next generation of financial applications offer stability towards merchants and businesses that adopt blockchain technology.
MakerDAO and Dether partner to bring Dai stablecoin to mobile ATMs around the world
MakerDAO is excited to announce its exciting partnership with Dether. Our teams have been working together for the past few weeks in order to bring the value and power of a stable token to retailers and individuals worldwide. The partnership will make it simple for users to easily switch from any cryptocurrency to Dai.
Our vision is to address volatility issues preventing blockchain technology from being adopted worldwide and bring stability to the blockchain through Dai. By partnering together, DTH and DAI will break the barriers to blockchain and crypto adoption, enabling any individual or shop owner to easily switch from any cryptocurrency stabilized against the value of the U.S. Dollar, and vice versa.
Dether’s mission is to give power back to individuals — especially unbanked populations across the globe — by enabling them to easily access cryptocurrency. As a consequence, Dether started building a worldwide ecosystem of crypto buyers, sellers and physical stores willing to trade crypto for fiat cash and accept it as a means of payment.
Maker sells $12M of MKR to partners, led by Andreessen Horowitz and Polychain Capital
We are excited to announce that Andreessen Horowitz and Polychain Capital have led the purchase of $12M of MKR from the MakerDAO Development Fund. Other notable partners include Distributed Capital Partners, Scanate, FBG Capital, Wyre Capital, Walden Bridge Capital, and 1confirmation.
We are proud to invite to our team committed, strategic partners who share our long term vision of building a powerful platform to bring about a digital financial revolution. Many of our partners have been active volunteer participants in the Maker community for years. They have worked closely with us to support marketing efforts, grow our business development pipeline, and build tools and products for the Maker platform. There will be a minimum of a one year lock-up period for their MKR.
Funds from this capital raise will go towards expanding our development resources, funding a long term go-to-market strategy, increasing our network’s reach, and helping advance our long term development roadmap.
MakerDAO and CargoX partner to revolutionize logistics, supply chains and shipping
MakerDAO and CargoX are excited to announce a partnership that will combine the technology and expertise of both projects to create a new generation of exciting smart contract applications in the field of supply chain, logistics and shipping.
MakerDAO developed the Dai stablecoin, a digital currency soft-pegged to USD 1. The peg is maintained using decentralised and auditable smart contracts to hold collateral in excess of the total Dai supply.
CargoX is a startup with a team of experienced logistics innovators who are building a suite of supply-chain-related smart contracts to revolutionise the industry. CargoX aims to disrupt logistics with a fast-to-execute blockchain-based Bill of Lading, and they will continue with the development of the smart equivalent of the Letter of Credit, together with banks and insurers, and settlement with crypto tokens will be provided in the future.
The top 10 competitors in Maker’s competitive set are Polkadot, Radar Relay, Tether, ThunderCore, Solana, Kyber Network, InstaDApp, LEVERJ.IO, Bitfinex and Blockstack.
Maker (MKR) is one of the most potentially valuable coins in all of cryptocurrency.Maker is part of a system that creates crypto’s most rock-solid stability coin, which is always locked at $1 in value. We say it’s the best because, unlike Tether, DAI has been audited multiple times.
All opinions expressed in the above article are solely of the author’s and do not reflect the opinion of the Global Crypto Alliance Ltd., any of its affiliations or any other company. This article is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The Global Crypto Alliance Ltd. strongly recommends that readers conduct their own research and due diligence into the company, product or service, if any, that may be mentioned in the above content.