The poll to finalize the upgrade from MKR to SKY has been approved.
The proposal lays out a plan to:
• Define the process to upgrade the governance token of the Sky Protocol from MKR to SKY.
• Disable SKY-to-MKR conversion in the existing converter.
• Deploy a new contract allowing MKR to SKY conversion at 1:24,000 with an adjustable penalty.
• Enable SKY as the governance token of the Sky Ecosystem Governance.
• Launch SKY staking with new collateral parameters and USDS rewards.
• And other key changes required to complete the upgrade from MKR to SKY.
As the final step in the voting cycle, this proposal will be included in an upcoming Executive Vote. If approved, it will authorize the required deployments.
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Yan Meng @ Solv Protocol | ERC-3525
Painstakingly thoughtful
蓝狐
Many people mistakenly think we are ETH maximalists, but we are not; we are just crypto optimists. During 2018/19, we focused on translating or writing many articles related to BTC because people had lost faith in BTC at that time. In this cycle, we are focusing on writing content related to ETH because people are now skeptical about ETH. We have our own logic and beliefs, but what we believe is not important; what the market believes is important. Some trends will not change due to a cycle or a few years of twists and turns.
Previously, besides introducing articles on the underlying value of BTC, in 2019, we were probably one of the earliest in the Chinese community to introduce Solana, long before the testnet and TGE, starting with its technical framework. At that time, we provided a detailed introduction to Solana's proposed PoH consensus mechanism.
Of course, during that period, we also focused on DeFi, and we were among the earliest to follow Uniswap, dYdX, Aave, Maker, etc.
For us, BTC/ETH/SOL each occupy different ecological niches; some have the highest value today, while others have yet to fully realize their potential, with limitless future possibilities. There are many perspectives to consider, and supporting one does not necessarily mean opposing others.
The total market capitalization of the crypto world is only a few trillion dollars, which is still a small proportion of the global asset scale. There is still a lot of room for truly valuable projects in the crypto field. The future on-chain economy could potentially reach tens of trillions of dollars, with many financial innovations occurring in the crypto field, and there will also be AI+crypto integration...
Maximalists exist due to pure belief, investment logic, positions, or the pursuit of short-term liquidity. These motivations are understandable and completely acceptable; speaking up for oneself is the most normal thing.
In fact, no matter how things develop in the end, they have their causes and conditions. Some stories have not yet happened, but the framework of the ending is almost written.
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3
付付
Why have stablecoins recently risen again? How can we earn passive income while lying down?
🔻
1/ Policy Relaxation
Trump plans to legislate stablecoins in August, bringing the dollar hegemony directly into the blockchain world. Previously afraid of regulation? Now compliant stablecoins = digital treasury bonds!
2/ The Big Players Are Here
Fidelity is entering the market with $6 trillion to play with stablecoins, an operation comparable to the "national team playing street soccer."
3/ Huge Profit Temptation
Interest-bearing stablecoins with an annual yield of 20%-30%? Amazing!!!
Ethena's #USDe: Playing with ETH staking + short hedging, bull market returns up to 29%;
OpenEden's #USDO: Treasury yields + DeFi arbitrage, earning while lying down or sitting.
🟡 So, how do we get on board?
1. Protocol Token Mining
#Ethena ($ENA): Lock USDC for mining, annual yield 15% + airdrop expectations;
#MakerDAO ($MKR): Although it grows slowly, TVL is stable!!
Operation: Wallet -> Protocol website -> One-click staking, quite simple.
2. Wait for Airdrops
#Resolv: Deposit USDC to exchange for USR, 30x points + ecosystem rewards;
#LevelFinance: Stake lvlUSD to earn 20x points, airdrops are coming soon.
But, don't be a "points chaser," try to choose projects with VC backing.
🟣 In a nutshell
Interest-bearing stablecoins = digital treasury bonds + DeFi lottery + cross-border Alipay
But remember:
Choose compliant platforms (USDC/USDT)
Beware and reject high-interest temptations
Play with spare money, don't go all in
#If you're idle, give a like 💗
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63
Crypto Koryo
Interesting dynamics in lending sector.
Aave is still leading but newer players like Morpho, Euler, and Fluid are challenging established protocols like Compound and Maker (Spark).
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parsec
This almighty MKR/ETH sell wall remains unbroken with the owner clipping significant fees
parsec
Notice the strange price action in the MKR/ETH ratio over the past 10 days or so, pinned below 0.85
This is thanks a huge thick one sided v3 ask right at 0.85 with almost 1% of MKR supply ($15m)
Until the market chews through this wall, or this position gets pulled, MKR/ETH is not going anywhere!
The current price of Maker is $1,733.80. Over the last 24 hours, Maker has increased by +6.36%. It currently has a circulating supply of 833,846 MKR and a maximum supply of 1,005,577 MKR, giving it a fully diluted market cap of $1.45B. At present, the Maker coin holds the 47 position in market cap rankings. The Maker/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
In a push towards decentralization, governance tokens have emerged as a cornerstone of many crypto projects, allowing token holders to stake and vote on protocol modifications. MKR is the governance token for MakerDAO, which plays a pivotal role in ensuring the efficiency, transparency, and stability of DAI, a decentralized, collateral-backed stablecoin.
What is MakerDAO
MakerDAO is a decentralized autonomous organization (DAO) that administers the DAI stablecoin through the Maker Protocol. This protocol enables the minting and management of DAI stablecoins while maintaining their peg to the US dollar using over-collateralization and other mechanisms. The primary responsibility of MKR holders is to vote on changes to the Maker Protocol, which directly impacts DAI. MKR's governance role ensures that the protocol adjusts and evolves in response to the market's demands and potential risks.
The Maker team
Maker was created in 2015 by Rune Christensen, a Denmark-based entrepreneur. He graduated from the Copenhagen University with a degree in biochemistry. He also studied international business at the local Copenhagen Business School. Before founding MakerDAO, he co-founded Try China, an international recruiting company.
How does MakerDAO work
MKR holders are at the heart of the MakerDAO system, actively participating in Executive Voting. Successful votes translate into changes within the protocol. For instance, these token holders set the DAI savings rate, directly impacting the incentives for those who stake DAI. Contributors are rewarded for their active involvement.
MKR tokenomics
MKR tokens, capped at 977,631 in supply, are central to the MakerDAO ecosystem. They empower holders with governance rights, allowing them to shape the system's direction. Beyond governance, MKR is crucial in maintaining DAI's stability, ensuring its value remains pegged and resilient to market fluctuations. Notably, in situations of undercollateralization, MKR is auctioned to cover the deficit.
Furthermore, MKR tokens are used to settle stability fees, which are essentially interest charges on DAI loans. These MKR tokens are subsequently burnt, gradually reducing their overall supply and adding an element of scarcity.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 10K new posts about Maker, driven by 6.3K contributors, and total online engagement reached 56M social interactions. The sentiment score for Maker currently stands at 73%. Compared to all cryptocurrencies, post volume for Maker currently ranks at 0. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Maker.
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Posts
9,963
Contributors
6,320
Interactions
56,113,203
Sentiment
73%
Volume rank
#0
X
Posts
1,288
Interactions
3,819,391
Sentiment
79%
Maker FAQ
How is MKR different from DAI?
While both tokens are part of the MakerDAO ecosystem, MKR is a governance token, and its primary role is to oversee the protocol's operation and stability. In contrast, DAI is a stablecoin pegged to the US dollar, designed to maintain its value despite market volatility.
How is DAI's stability maintained?
DAI's stability is ensured through over-collateralization, liquidation processes, MKR governance, stability fees, and the DAI Savings Rate (DSR). Combined, these mechanisms help keep DAI's value close to $1.
Where can I buy MKR tokens?
Easily buy MKR tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include MKR/BTC, MKR/USDC, and MKR/USDT.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into MKR, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
How much is 1 Maker worth today?
Currently, one Maker is worth $1,733.80. For answers and insight into Maker's price action, you're in the right place. Explore the latest Maker charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Maker, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Maker have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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