Maker (MKR) is a token that has a lot of work behind it and offers healthy decentralization conditions. Through the smart contracts offered by the Ethereum blockchain, Maker provides a combination of factors ranging from the utility for platform governance to a stable token that is revolutionizing the idea of stablecoins.
Flyp.me does not cease its evolution, offering a simple system through its renewed interface that incorporates more than 30 cryptocurrencies and tokens to exchange with each other. The crypto exchanger service without account adds Maker (MKR), expanding the exchange menu and adding one of the symbols of the sector.
The governance functions provide that the owners of the MKR token can exercise voting rights in key decisions and movements. Maker’s system of voting for continuous approval facilitates the inclusion of the community’s intention. The intentions of the holders are reflected in the decision making, ensuring that they really influence the development and direction of the project.
Cryptocurrencies and tokens have garnered great attention in recent years. The technological sector, the specialized media, and all types of web portals are echoed. Meanwhile, developers from all areas of the globe expand and configure a new global, open, decentralized and neutral financial system.
Key reasons of the Maker (MKR) token’s listing on Flyp.me
Token holders can use MKR to use the system or only maintain them to exercise the right to vote. In other ecosystems, the decisions that affect and decide the future of the platform do not always take account of the token holders; however, it is a key factor in the consensus system devised for Maker. In addition, the token offers other options when using the system.
These, and other characteristics that we mentioned below, have facilitated the Flyp.me team deciding to list MKR in their accountless instant exchange. The platform based on smart contracts Maker has a main function, to support and stabilize the value of its stable token, DAI. DAI Stablecoin is a token that seeks to reduce volatility as much as possible.
In the crypto sector, DAI is running as a clear competitor to Tether whose price is also linked to the US dollar. In order to stabilize and support the DAI, a dynamic system of guaranteed debt positions (CDP) has been devised. Obviously, providing stability would not be possible without the use of autonomous feedback mechanisms and duly incentivized external actors.
“Maker is comprised of a decentralized stablecoin, collateral loans, and community governance.”
Maker Dao web.
The synergy between MKR and DAI
Once understood that the system of smart contracts keeps the relationship between the two tokens, we can begin to understand how it is achieved. The Maker (MKR) tokens are created or destroyed (being burned) according to the fluctuations of the spot price for DAI. This keeps the value of DAI in constant motion, looking for its target value (1 $). In this sense, using an open and distributed blockchain, such as Ethereum, provides ease and reliability to audit all the processes that are part of the system.
With the previous listing of DAI Stablecoin on Flyp.me and of the Maker token (MKR), the instant crypto exchange expands its decentralized offer. Monero, Zcash, Bitcoin, Ethereum, Dogecoin and other classics in adoption can now be exchanged for MKR, including DAI and the token of the Flyp.me platform, the FYP token.
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