Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Maker (MKR): Price Updates, Recent Developments, Future Events, Community

Cryptocurrency May 14, 2022 11:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Maker (MKR): Price Updates, Recent Developments, Future Events, Community

  • Maker (MKR) is the native token of MakerDAO’s Dai, a decentralized stablecoin using a unique ‘Maker Collateral Vault’ system.
  • In pushing to be used to finance off-chain business activities, Maker vaults were used to finance a shipment of Australian beef to Hong Kong.
  • For the transaction, Maker Protocol partnered with Centrifuge and ConsolFreight, minting an NFT of the manifest.
  • On the back of the TerraUSD (UST) crash, MKR has rallied 30% in 24 hours, making DAI the fourth biggest stablecoin.

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol, which allows users to issue and manage the DAI stablecoin.

Maker Protocol uses Maker Vaults, enabling users to deposit their crypto as collateral and mint Dai against it. Users with Vaults can then repay their Dai loan to redeem their collateral.

As Terra (LUNA) collapsed, dragging the crypto market with it, Maker (MKR) was one of the few cryptos to continue trading in the green. So, what was responsible for keeping Maker out of the red sea?

Recent Developments

One of Maker’s biggest goals is to finance off-chain business activities, something in which it has been steadily making strides. On May 9th, Maker announced that one of its vaults was used to finance a shipment of Australian beef to Hong Kong.

According to the announcement, the transaction was executed in partnership with Centrifuge – a protocol that allows users to finance real-world business activities with DAI.

ConsolFreight, a trade finance provider operating on Centrifuge, was also involved in the transaction, financing it by minting DAI via Centrifuge’s Maker vault.

While this marks growth in its real-world utility, the true driving force behind Maker’s upward price trajectory is the fact that its main rival, Terra (LUNA), is on the edge of collapse. Unlike TerraUST, which moves in sync with LUNA, Maker uses a system of overcollateralized vaults.

The Maker Protocol explains that it is for users who deposit 10 ETH in a vault. These users can only mint the DAI stablecoin equivalent of 5ETH (200% collateralization). Maker explains that if collateralization falls from 200 to 145% (in the event that the price of ETH drops), their vaults are liquidated, after which:

Maker Protocol pays off Dai loans and closes Vaults to protect its collateral during a bear market. This infrastructure has kept the price of the DAI stablecoin truly stable, comparison to the methods employed by TerraUSD.

Future Events

Recently, Instadapp released Dai Vault integration to its ‘Lite’ version, allowing users to start earning up to 5.7% APY on their Dai investments.

Maker will host its first Twitter (NYSE:TWTR) Space on Friday, May 13th, at 16:00 UTC to enlighten its community. The Instadapp team will also be involved, and will talk about their product and the integrations with the Maker Protocol and Dai.

Price Updates

Despite the week-long downtrend experienced by the market at large, Maker (MKR) has been one of the few cryptos that remained in the green. In the last 24 hours, MKR has gained 30% in value, and is up by much as 48% in the last 48 hours.

The 1 day price chart for Maker (MKR). Source: CoinMarketCap

Maker is the only crypto in the top 100 to post gains in the last week. Maker (MKR) is up by 10% for the last seven days, while market leaders like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) are down by ∼20% or more.

The 7 day price chart for Maker (MKR). Source: CoinMarketCap

After hitting an interday high of $1,747.71, Maker is trading at $1,460, as of this writing. Maker is now ranked as the 43rd largest cryptocurrency, with a market cap of $1.43 billion.

On the Flipside

  • Just two months ago Terra Founder Do Kwon tweeted that Dai would die because of the swift growth of Terra’s stablecoin, UST.
  • However, DAI, a five-year-old stablecoin, has seemingly outlived UST, which was only launched in September 2020.


As a decentralized stablecoin, the community behind Maker is taking it to the top. Its holders directly participate in the governance process of the coin, and voting power is dependent on inidividual commitment to the project, based on the amounts staked.

With the crash of UST, the Maker Protocol community has found renewed belief that their stablecoin outclasses others. Twitter user @UncleRewards wrote:

In a thread discussing the fundamental reason for the UST crash, and comparing it to Maker’s protocol, Sonystinha Isentão shared:

Bullish about the future of MKR, @cryptolife_shop wrote:

Why You Should Care

The over-collateralization structure adopted by the Maker Protocol ensures that there is always enough liquidity to cover the minted DAI token, Thereby preventing the de-pegging and collapse of its stablecoin, as has happened to TerraUSD.

Continue reading on DailyCoin

Maker (MKR): Price Updates, Recent Developments, Future Events, Community

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email