$MKR : The Governance Core of Stablecoin DAI
Maker is the pioneer project of DeFi, established in 2017, with the core mission of operating the decentralized stablecoin DAI. The entire system is governed by the decentralized organization Maker DAO and allows users to create and manage DAI through the Maker dApp.
MKR Token: Not Just Voting Rights
Holding MKR is equivalent to obtaining 'shares' in the system, with the core value being governance rights: voting to decide which assets to add as collateral, adjusting risk parameters, and other key rules, directly affecting the health and innovation pace of the DAI system.
Highlight: The 'Stabilizer' with Dynamic Supply
The supply of MKR has no upper limit but is designed ingeniously:
Risk 'Backstop': When the value of collateral plummets and the proceeds from liquidation are insufficient to cover the debt, the system will 'issue new MKR and sell it' to make up for the shortfall.
Surplus 'Recovery': When the protocol generates extra profits, it will be used to 'buy back and destroy MKR from the market,' reducing the total supply.
Significance: This dynamic mechanism is the 'ultimate backup' for DAI to maintain stability. MKR acts as a 'risk absorber' and a 'reservoir for value growth' in the system — when the system is unstable, new issuance shares the risk; when there is a surplus, deflation increases the value of the token.
MKR holders are both decision-makers and deeply tied to the robustness of the system. Its price not only reflects governance value but also serves as a barometer for the overall health of the DAI ecosystem.
Rather than enjoying alone, it is better to enjoy together. You reach out first, and I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
