Maker (MKR) is the governance token that powers Maker DAO (decentralised autonomous organisation) – the protocol underpinning the DAI stablecoin.
In addition to granting holders the right to vote on changes to the DAI protocol, MKR is also used to pay transaction fees and as part of the DAI rebalancing process (i.e. the process that keeps the value of each DAI at US$1). New MKR is created when the value of the tokens stabilising the DAI goes up, and is destroyed when the value goes down.
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