English name of Token: Maker
Ticker of Token: MKR
Chinese name of Token: N/A
Country of Incorporation: Cayman
Investors:Polychain Capital, Gulu, James gong，Andreessen Horowitz, Polychain Capital, Wyre Capital, FBG Capital。
Industry&Facts & figures: Dai: the first decentralized stablecoin on Ethereum. Can be seen at: dai.makerdao.com
Description of the project:
MakerDAO is the platform behind the first decentralized stablecoin on Ethereum: Dai. MKR functions as the governance and fee token of the Dai Stablecoin Platform. It is used to vote on Dai risk parameters, and used to pay stability fees by Dai generators.
Total available supply:1,000,000MKR（MKR is required for paying the fees accrued on CDPs that have been used to generate Dai in the Maker system. Only MKR can pay these fees, and when paid the MKR is burned, removing it from the supply. This means that if the adoption and demand for Dai and CDPs increases, there will be additional demand for MKR so users can pay the fees. It also means the supply will decrease as MKR is burned. If MKR holders are highly competent and govern the system well, CDPs will always remain overcollateralized and there will be no threat of insolvency to the system. However mistakes or unforeseen circumstances can happen, and as a result it is possible that parts of the collateral portfolio becomes undercollateralized. When this happens the last function of the MKR token is triggered: automatic recapitalization through forced MKR dilution.）
Tokens in circulation: 610,000MKR
Currently 39% in the development fund, 61% trading publicly on the market.
15% of the total supply is held by core team members.
This document is compiled from the official whitepaper and relevant documents provided by the token team, to provide investors an overview of the token. The information in this document is collected through formal legal channels. We make every effort to provide complete and accurate information. However, we do not guarantee accuracy, completeness, timeliness or correct sequencing of the information. This information is not to be regarded as investment advice, or legal proof, or evidence.
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