What is Maker?
MKR is the ERC-20 governance token for Maker, a decentralized autonomous organization (DAO) on the Ethereum blockchain with the main purpose of creating decentralized digital assets tied to the value of real instruments including fiat currency, gold, etc. MKR holders earn voting rights to determine the risk management and business logic of the Maker Ecosystem. Maker Protocol is the minting authority for DAI, a crypto collateralized stablecoin tied to the value of the US dollar. MKR token holders determine the amount of DAI that can be borrowed against its collateral, setting collateralization ratios and assessing interest rates or "stability fees" and managing liquidations as necessary. Maker allows for the creation of as stable asset derivatives in the form of Collateralized Debt Positions (CDPs) to allow for permissionless leveraged trading for a variety of volatile assets including stocks, options contracts and Contract for Differences (CFDs).