Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — a decentralized autonomous organization and a software platform based on the Ethereum blockchain, respectively— that allows users to issue and manage the DAI stablecoin.

Maker

MKR

40%

Market leadership

MKR
Maker

  • Maker (MKR) is the governance token of the MakerDAO and Maker Protocol

  • MKR raised $54.5M from numerous crypto VCs

  • 400+ projects are integrated with Maker

  • Maker's online presence is growing sustainably each year with huge communities built on Twitter and Reddit

46%

Overall rate

Team expertise

85%

Fundrising experience

67%

Token

<10%

Industry influence

44%

Social impact

27%

MKR allows its holders to participate in the process of governing DAI tokens. Every holder of Maker tokens has the right to vote on several changes to the Maker Protocol, with their voting power depending on the size of their MKR stake.

This set of unique features makes the project and its tokens, MKR and DAI, desirable for many investors. However, the unlimited supply of MKR tokens and the highly competitive market of DAOs suggest that there's still room for improvement.

Verdict
40%
Maker is an Ethereum token that describes itself as "a utility token, governance token, and recapitalization resource of the Maker system." The purpose of the Maker system is to successfully generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of US$1.00.
Market leadership
Project Objectives
Maker aims to unlock the potential of decentralized finance by creating an inclusive platform for economic empowerment that gives every participant equal access to the global financial marketplace.
Competition
Aside from Maker, projects like Uniswap and Aave are among the popular protocol Decentralized Autonomous Organizations (DAO).
85%
With such an experienced founder and 100+ blockchain professionals on the team, MakerDAO has great potential for future growth.
Team expertise
  • 100+ employees are listed on LinkedIn

  • HQ: Copenhagen, Denmark
Founders
Rune Christensen
Founder of MakerDAO and CEO of the Maker Foundation

Rune Christensen is the founder of MakerDAO and CEO of the Maker Foundation, two significant parts of the decentralized finance protocol Maker's ecosystem.

Prior to his work in crypto, Christensen founded a company helping people learn English, which he continued to manage while studying at the University of Copenhagen and Copenhagen Business School. After discovering Bitcoin in 2011, he eventually sold the business to invest in the asset. But when Mt. Gox was hacked and collapsed in 2014, Christensen became interested in the idea of stablecoins.

In 2015, Christensen launched MakerDAO as a way to provide everyone in the world with the ability to participate in a better, more transparent financial system. Since then, Maker has grown from one of the first-ever protocols on Ethereum to become one of its largest.
67%
In the past 5 years, Maker raised more than $54 million during several investment rounds led by a venture capital firm Andreessen Horowitz and other established institutional investors.
Fundrising experience
$54.5M
Total investments raised

  • In 2017, the Maker team raised $12 million by selling MKR tokens, the round was led by venture capital firm Andreessen Horowitz. Other investors included the cryptocurrency fund Polychain Capital and 1Confirmation.

  • In 2018, a further $15 million worth of MKR tokens was sold to Andreessen Horowitz. The firm said at the time that it intended to participate in MakerDAO by helping to govern the DAI system.

  • Maker raised an additional $27.5 million in 2019 from venture firms Paradigm and Dragonfly Capital Partners for expansion to Asia.
<10%
The MKR, a token based on Ethereum, is a governance and utility token that is aimed to ensure the generation of another token, DAI. The total supply of MKR does not have a hard-coded limit.
Token
Ticker: MKR

Documents: Whitepaper

Max Supply: not limited

Token distribution:

  • 100% to founders and project

Use of token:

MKR is a governance token used by stakeholders to keep the system running and DAI in check. MKR token holders make decisions for the Maker Protocol, which is supported by the greater public community and numerous other external stakeholders.

The issuance and removal of MKR from the system are governed by a system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. There is no hard-coded limit on the total supply of MKR.
44%
The Maker has more than 400 integrations with top crypto services, including Coinbase, Metamask, and Opensea.
Industry influence
  • Integrations: 400+ integrations, including Coinbase, Metamask, Opensea, Wirex, Sandbox, etc.

  • Enterprises involved: Shopify, WooCommerce

  • Developer activity: High
27%
MKR is actively growing its online communities with 233 Twitter followers, which is 21% more than a year ago. The MKR team is also developing Maker communities in WeChat, Telegram, Discord and Reddit. Audiences on social media platforms are growing each year, but the numbers of community members are notably lower than those shown by their direct competitors.
Social impact
233k followers on Twitter (+21% in the past year)
15k members on Telegram
14k members on Discord
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