What is MKR

1. Project Introduction
Project Introduction
The Maker Protocol (now branded as SKY) is a decentralized system on Ethereum that allows users to create stablecoins. The system is composed of USDS (formerly Dai), Maker Collateral Vaults, decentralized oracles, and governance mechanisms.
Governance is carried out by MKR holders who vote on key parameters like stability fees and collateral types. Maker is one of Ethereum’s largest dApps and was the first widely adopted DeFi protocol.
On August 27, 2024, the Maker protocol announced a rebrand to SKY:
DAI → USDS (1:1 conversion)
MKR → SKY (1:24,000 conversion)
Maker SubDAOs were renamed Sky Stars
2. Team & Investment Info
Rune Christensen (Founder): Also co-founder of Raw Power Games and Try China; key visionary behind Maker and DAO governance.
Kenny Rowe (Co-founder): Former COO of RChain; co-founder of Octu Ventures and contributor to Urbit.
Funding History:
Mar 2020: $7M
Dec 2019: $27.5M OTC round
Sep 2018: $15M round
Dec 2017: $12M round
3. Social Media URLs
X: https://x.com/SkyEcosystem
Telegram: https://t.me/makerdaoOfficial
Reddit: https://www.reddit.com/r/MakerDAO/
YouTube: https://www.youtube.com/MakerDAO
4. Token Info
Token Symbol: MKR
Total Supply: 902,289
Token Type: ERC-20
Issuance/Burn Mechanism: MKR had minting and burning mechanisms to regulate supply.
Contract Address: https://etherscan.io/token/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
Token Distribution:
Initial Supply: 1 million MKR
Founders & Project: 69.5%
Team: 15%
Seed Round 1: 4%
Seed Round 2: 6%
Seed Round 3: 5.5%
5. Related Links
Official Website: https://makerdao.com/en/
White Paper: https://makerdao.com/zh-CN/whitepaper
LinkedIn: https://www.linkedin.com/company/makerdao/
Other Info: https://www.rootdata.com/Projects/detail/Sky?k=MjQ%3D