Maker (MKR) is the governance token for MakerDAO and the Maker Protocol, which are both built on the Ethereum blockchain. These platforms allow users to create and manage the DAI stablecoin. Maker was first conceptualized in 2015 and officially launched in December 2017. It operates DAI, a decentralized cryptocurrency that is pegged to the US dollar and managed by the community. MKR tokens have voting rights in the organization overseeing DAI's development and are expected to increase in value as DAI succeeds. As one of the pioneering projects in decentralized finance (DeFi), the Maker ecosystem aims to create decentralized financial products on smart-contract-powered blockchains like Ethereum.
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