Maker is a decentralized credit platform. Users deposit their cryptocurrencies as collateral and in return receive the DAI stablecoin-a digital stable currency that does not depend on market fluctuations. The cost of DAI is pegged to the US dollar: 1 DAI = 1 USD ( - a couple of cents).
Maker consists of two tokens: MKR and DAI. Both are built on the Ethereum blockchain and are tokens of the ERC-20 standard. They are in the TOP 50 of the rating coinmarketcap.com by the level of capitalization. Unlike DAI, the MKR exchange rate is changing, for 2020 it grew by about 30% from 430 to 570 dollars.
Why are there as many as 2 coins in the system?
If the price in the market changes to the currency that you put on deposit, and even its sale does not cover the expense, then maker creates MKR coins. Then they are sold and thus provide a stable price of DAI.
If the situation is different, and there is a surplus of funds, then the site buys MKR and then burns them.
And this is the strongest strona maker. They created a stable, the price of which can actually be regulated and be equal to the dollar. And not just hold on to the promises of developers.
Are you ready to take out a loan in cryptocurrency? Do you prefer to take a loan from a regular bank?