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Maker(MKR)

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$1,110.32
(3.57%)
0.04528894 BTC
Market Cap (Rank#58)
$1,085,487,603
44,276 BTC
Vol 24h
$17,775,511
725.047 BTC
Circulating Supply
977,631.04
Max Supply
1,005,577
13h agozycrypto
US Rep. Brad Sherman Questions Why SEC Hasn’t Gone After Crypto Exchanges That Had Traded In XRP
The Securities and Exchange Commission (SEC) has come under sharp criticism from a U.S. lawmaker who questioned the...
1 day agocryptodaily
GALA, The World-Leading Web3 Company, Spearheads A New ERA Of Entertainment With GALA FILM
Jackson, USA, 9th August, 2022, ChainwireAnnounce Partnership With Stick Figure Productions to Distribute Four Down Executive Produced by Dwayne Johnson and More Gala, one of the leading innovators in blockchain gaming and music, has announced the launch of Gala Film. This new vertical from the world-leading Web3 company continues the brand’s commitment to providing fans with unique opportunities to enrich their experiences coupled with amazing programming and exciting projects. With this announcement Gala Film also shared they will partner with Oscar-nominated and Emmy Award Winning Stick Figure Productions to present FOUR DOWN, a feature-length documentary directed by award-winning filmmaker Steven Cantor based on the New York Times best-seller NOT WITHOUT HOPE, written by Nick Schuyler and Jere Longman, and executive produced by Dwayne Johnson, Dany Garcia, and Hiram Garcia on behalf of Seven Bucks Productions, as well as Nick Schuyler. Upcoming projects/partnerships A partnership with Ai&Aiko, one of the most popular GIF lines in history was awarded GIPHY’S Number 1 Artist of the Year with over 48 billion views and holds 4 Guinness World Records. This will see Peter Draw’s simplistic and charming visual storytelling brought to life through the Gala Film platform A partnership with Filmmaker and Actor, David Bianchi (“True Story’’ Netflix, “Resident Alien” Universal / Peacock) and founder of Exertion3 (a blockchain film production company) to produce Live Action Sci-Fi Series “RAZOR” for the Exclusive Blockchain Release A partnership with Battle Island in the production of their animated series ‘Ghosts of Ruin’ (see more here) ‘Making the Chronic’ - a series of 16 short films where Snoop Dogg narrates each of the tracks on his album released through Gala Music The core benefit of Gala Film is its ability to offer a ‘Watch and Earn’ mechanic through the same blockchain technology that underpins Gala Music’s ‘Listen and Earn’ and Gala Games’ ‘Play and Earn’ ecosystem, offering fans ways to earn rewards through nodes and NFTs. With Gala Film, fans now have the power to actively participate in the content they consume, take control of their entertainment through digital ownership, and support new projects by voting on script choices or casting. Filmmakers and artists can also reclaim their creative license through a deeper connection with their audiences and the ability to distribute their content directly to the people that want to watch it. By adding film alongside its successful music and games platforms, Gala is also able to offer an interoperable ecosystem where fans can benefit from crossover content. Sarah Buxton, COO of Gala, said: “The launch of Gala Film marks the beginning of a new era in Web3 entertainment, led by Gala. Our ecosystem offers exceptional involvement and access to new launches, with fans able to enjoy unique experiences, empower creatives and get rewarded for doing so. We are committed to delivering fan-first entertainment, where technology is used to improve fan experiences without ever becoming a barrier to entry or enjoyment.” About Gala Gala is a world-leading Web3 entertainment company that uses blockchain technology to power digital ownership and rewards, creating a revolutionary new way of building and consuming entertainment. Launched in 2019 with Gala Games, Gala is the parent company of Gala Games, Gala Music, and Gala Film. The vision brings all three brands together in the shared pursuit of offering fans unique and immersive experiences powered by Web3. Gala also gives creative license back to content creators and emerging talent with a direct route to fans and the ability to offer genuine involvement in new projects. For more information visit: https://gala.com ContactsMaggie [email protected]
1 day agocryptodaily
Curve Finance Asks Users To Revoke Recent Contracts After DNS Hack
Curve Finance became the latest target in a long list of exploits that have decimated the crypto space in 2022. The protocol reported that an exploit on the site’s nameserver and front end resulted in a loss of over $573,000. The protocol has since reported that the problem has been found and fixed. $570,000 Stolen From Curve Finance Automated Market Maker Curve Finance took to Twitter on Tuesday, warning users of an exploit on its site. The Curve team acknowledged the issue affecting the site’s front-end and nameserver, which appeared to be orchestrated by a malicious actor. The protocol stated on Twitter, “We are becoming aware of a potential front-end issue that is approving a bad contract,” the Telegram announcement read. “For now, please do not perform any approvals or swaps. We’re trying to locate the issue, but for now, for your safety, do not use Curve.fi or curve.exchange.” The team made a second announcement shortly after the initial one, stating they had found the source of the problem and addressed the issue. However, the protocol has asked users to revoke any contract approvals they may have conducted over the past few hours when the protocol’s front end and nameserver were compromised. “If you have approved any contracts on Curve in the past few hours, please revoke immediately.” The attack on Curve comes hot on the heels of another exploit, suffered by Nomad, leading the protocol to lose $190 million. Exchange Unaffected Curve stated in a follow-up that its exchange, which is a separate product, was unaffected by the hack. This is because the exchange uses a different domain name system (DNS) provider. The protocol added that users should continue to use the Curve.exchange until Curve.fi reverts to normal. “The issue has been found and reverted. If you have approved any contracts on Curve in the past few hours, please revoke them immediately. Please use http://curve.exchange for now until the propagation for http://curve.fi reverts to normal.” According to Curve, the hacker appeared to have changed the domain name system entry for Curve Finance. This forwarded users to a fake clone, which approved a malicious contract. However, the program’s contract was not compromised by the hack. Alarm Bells On Twitter While the attack on Curve Finance was ongoing, Twitter users speculated on the source of the attack. User LefterisJP speculated the attacker had used DNS spoofing to execute the attack on Curve. “It’s DNS spoofing. Cloned the site, made the DNS point to their IP where the cloned site is deployed, and added approval requests to a malicious contract.” Other users on Twitter were quick to warn fellow users about the ongoing exploit, stating that the protocol’s front-end had been compromised, while others noted that the hacker had stolen over $573,000. A Significant Impact On Curve The timing of the exploit could not have been worse for Curve.finance, which was winning favor with analysts, who had stated in July that despite the recent market downturn, Curve remained a viable option in the space. Researchers have several reasons for their bullishness around the protocol, specifically pointing out the growing demand for Curve DAO token deposits, the protocol’s yield opportunities, and its revenue generation thanks to stablecoin liquidity. This observation came after the protocol launched a new algorithm that allowed the exchange of volatile assets, promising to allow low-slippage swaps between any volatile assets. The pools use internal oracles and a bonding curve model, previously deployed by market makers such as Uniswap. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day agocryptodaily
X Open Hub Adds 30 New Cryptocurrencies and 2 Emerging Market Indices to its Vast Asset List
Global provider of cutting-edge liquidity and technology solutions for financial institutions, X Open Hub has announced additions to its vast multi-asset offerings. The company has introduced 30 new cryptocurrencies and two emerging market indices, CH50cash and IND50cash, to the 5000+ global instruments it already offers. With 12+ years experience offering world-class technology and transparent liquidity solutions for banks and brokers, X Open Hub is committed to supporting financial firms. The company aims to help them achieve cost-optimized business models through improved operational efficiency and increased profitability. The Crypto Winter Is Ending Say AnalystsDespite the ongoing cryptocurrency winter, millennials and Gen Zs are increasingly looking at digital assets for investment purposes. A rise in awareness and education regarding this class of assets, along with their low correlation with price moves in traditional investment instruments, has been driving this interest. Increasing regulatory oversight across numerous countries is expected to lend stability to the digital asset class. Additionally, the rise of DeFi projects is also likely to drive interest in cryptocurrencies. Moreover, the decline in crypto prices in recent months has many investors wondering whether to buy the dip before the crypto winter ends. Historically, there have been four such crypto winters, including the current one. Each time, the market has reversed within around a year. So, investors might be looking at acquiring digital currencies while the prices are still low and before the market begins to rise once again. X Open Hub Adds 30 New CryptosBrokers are increasingly looking at offering their clients opportunities to trade the most popular and promising digital currencies. X Open Hub has added 30 new cryptocurrencies to its already long list of crypto offerings. The new crypto offerings available through X Open Hub’s liquidity solution are extensive and include: AAVE, ALGORAND, APECOIN, CHILIZ, COSMOS, CRONOS, CURVEDAO, DECENTRALAND, DYDX, ELROND, FANTOM, FILECOIN, FTX, GALA, GRAPH, INTERCOMP, IOTA, KILOSHIB, KYBER, MAKER, METAL, NEO, SANDBOX, STEPN, SUSHI, TRON, VECHAIN, WAVES, ZCASH and ZILLIQA. “We believe brokers need to stay abreast of trends and should perceive a wide range of cryptocurrencies as an additional tool to attract new customers or manage their retention. In the last quarter, we devoted a lot of attention to developing our asset class offering and equipping our partners with all the tools necessary to remain competitive in the market,” stated Michael Copiuk, CEO of X Open Hub. IND50cash and CH50cash X Open Hub has also added the IND50cash and CH50cash indices to its liquidity offerings. The IND50cash is based on the Nifty 50, the benchmark index that includes 50 of the most profitable companies across 12 sectors listed on the Indian stock markets. This makes it a well-diversified index. Alternatively, the CH50cash, is based on the China A50, a pan-China benchmark index that includes the top 50 companies, based on market cap, listed on the Shanghai and Shenzhen stock exchanges. A Global Leader Established in 2010, X Open Hub is the institutional arm of the XTB, which is listed on WSA and licensed across multiple jurisdictions, including the UK FCA, CySEC, IFSC, FSCA, and more. XOH has created a niche by providing complete front- and back-end technology and responsive support to propel growth for financial firms. X Open Hub’s solutions include deep institutional liquidity on more than 5,000 global instruments, including indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a powerful white label platform that can be fully customised and branded for each brokerage. X Open Hub also offers multiple integration options to ease operations for brokers, such as FIX protocol, xAPI, MT4/MT5 Bridge or Gateway, and integration with Prime XM, Gold-I, oneZero, and more. This has helped the company gain over 100 clients across more than 30 countries within a decade of being launched. Speak to the X Open Hub Team about cryptocurrencies and emerging market indices. Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
2 days agocoindesk
Crypto Options Trading on Solana Has Mostly Fizzled. A New DEX Has a Plan to Change That
OptiFi is the latest options trading DEX on Solana. Its on-chain automated market maker is made possible by portfolio margining.
3 days agocointelegraph
Top 5 cryptocurrencies to watch this week: BTC, FLOW, THETA, QNT, MKR
Select altcoins such as FLOW, THETA, QNT, and MKR could rally if Bitcoin breaks above the stiff overhead resistance at $24,668.
4 days agocryptodaily
The Fastest Millionaires Were Made In Crypto. Uniglo.io (GLO), Kava (KAVA) And Radix (XRD) Could Create The Next Wave
It used to take a long time to become a millionaire with any kind of investment. Unless you won the lottery overnight, investors often looked at their portfolio and hoped it could grow 10% or so a year. While there were always stories of people who invested in the likes of Apple in the 80s, you still would have needed quite a large sum invested to become a millionaire. Not with crypto, where a new generation of investors have been created almost overnight. Much, much quicker than the world has ever seen before. You've probably seen some of these stories before. The people who lost millions of BTC on an old hard drive. Or those who spent 12 BTC to buy a pizza. And for those losers, there were winners, too. Like those who bought BTC for $0.10 and simply held. The rapid rate of growth in the likes of Bitcoin and other cryptocurrencies over the last few years have re-written the script on the sort of upside possible from investments. Now millionaires really can be made quickly, with crypto. You might think your chance to make this kind of money is gone, with BTC already enjoying massive price gains, you might think it's too late. There's still a future for Bitcoin, but that might not be the best place to put your money right now. It might be slightly harder to become a crypto millionaire right now, in the current bear run. But it isn't impossible. And even if you don't end up making Lambo money, the right crypto investments right now could set your investments up for a fruitful future. One that's way stronger than if you have invested in traditional ways (with far less upside). Yes, there's still risk in crypto. But if you want to get rich from it, you might have to take those risks. Here are 3 tokens that could create the next wave of crypto riches: Uniglo (GLO) Uniglo is arguably the best coin many analysts have seen for some time. It's a community-driven deflationary token that has full and solid asset-backing. This gives it a price people can have real faith in, and isn't over-reliant on the performance of any one asset. It could be the answer to the globe's inflation issues. Kava (KAVA) Kava is extremely fast, something that makes a big difference in crypto with much of the market criticising the speeds of some of the more popular blockchains. It's an extremely scalable development environment that allows open-source scope and has a ton of upside for the future of crypto. It's currently available at around $2, which experts think is a great price with a ton of upside. Radix (XRD) Radix, or "Radically Different DeFi", clearly aims to be different. Their platform helps developers build solutions risk-free and quickly. It's also easy to scale and offers key rewards for coders working on the platform. There's a ton of interesting stuff going on with Radix, and it could be home to some future groundbreaking projects. That's why analysts recommend it for your portfolio immediately. Conclusion Analysts really like GLO, XRD and KAVA for your portfolio. Whether they can be the next millionaire-makers remains to be seen. But they've almost certainly got strong futures, so check them out. Find Out More Here: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
5 days agocryptodaily
We Show How Uniglo.io (GLO) Compares To The Early Days Of MakerDAO (MKR) And CurveDAO (CRV)
Picking up the right crypto coin at the right time can be key in the future of your portfolio. The most money is made by those who invested in the early days of a project, before it went mainstream and hit the big exchanges. That's where the real upside is. And there's one community-driven token that many are talking about and comparing it to the early days of MakerDAO and CurveDAO. They're all DAO-based projects, and GLO could be set up to go on to rival the likes of CRV and even surpass it in the coming months. That's why it could be a great addition to your portfolio right now, especially as it's still available during pre-sale at a huge discount. That means you get to enjoy incredible potential gains that could skyrocket when more and more people find out about it. Now is the time with GLO, here's why... Uniglo (GLO) Uniglo makes full use of an active DAO, giving full votes on all major decisions and really rewarding its users for being part of the project. These users are also rewarded with an incredibly strong range of features and potential strong price growth that isn't prone to massive price dumps or over-speculation. It shares some similarities with the early days of MKR and CRV, but also arguably has even more upside. If you're worried about growing inflation and how your dollars are becoming worth less and less over time, you might want to consider GLO as the perfect solution. It's completely deflationary, thanks to ultra-burn mechanics that make the token more scarce over time, alongside a full 1:1 asset-backed store of value with the GLO vault. The GLO vault is made up of a range of investments that include stablecoins, crypto, NFTs and even digitized versions of real-world assets like gold. This means it cannot be printed, and supply will continue to go down. That also means getting in early is key if you want all those upsides and more. So now could be the ideal timeframe to invest in GLO. MakerDAO (MKR) MakeDAO is an incredibly strong stablecoin, with a ton of benefits for holders. These include a strong and stable price, and a model that's based on being an unbiased currency. That means it isn't over-reliant on speculation, and gives holders a price they can have full faith in. CurveDAO (CRV) Curve acts as an exchange liquidity pool on the Ethereum blockchain that makes it easy for anyone to trade stablecoins. It's an incredibly efficient platform, and is arguably already the heart of the stablecoin trading world. It started off small like GLO, but went on to big things. Just like GLO could too. Conclusion GLO shares some similarities with the early days of CRV and MKR. But it also has a range of unique solutions that could set it up for an even bigger future. That's why it's recommended by analysts across the space right now. Find Out More Here: Join Presale: https://presale.uniglo.io/register Website: https://uniglo.io Telegram: https://t.me/GloFoundation Discord: https://discord.gg/a38KRnjQvW Twitter: https://twitter.com/GloFoundation1 Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
5 days agocryptodaily
All U.S. Crypto Exchanges Including Binance to be Investigated by SEC
According to a staffer from the office of United States Senator Cynthia Lummis, every exchange in the country, as well as Binance, is reportedly being investigated by the U.S. Securities and Exchange Commission (SEC). Crypto Exchanges Under Investigation Per a report from Forbes quoting an unnamed staffer from Senator Lummis’ office, the SEC is reportedly probing Binance and every exchange in the United States. There have also been widely circulated reports that the SEC is investigating the $20 billion exchange Coinbase. According to the source, the SEC is seeking to establish itself as the country’s chief crypto regulator as it battles it out with the U.S Commodity Futures Trading Commission for oversight and regulation of the industry (CFTC). Since 2014, the CFTC has maintained authority over “virtual currencies”, but the SEC has recently made its voice known indicating that it seeks to control the industry. The SEC's chairman, Gary Gensler has said on multiple occasions that many tokens might qualify as unregistered securities, which would place them under the purview of the SEC, and last week gave its strongest hint yet that it intends to clamp down on the nascent industry. Regulators Step Up Oversight Regulations have up stepped oversight lately after the SEC charged a former Coinbase employee along with two associates for insider trading. The regulator has also claimed that the exchange let customers trade “at least nine” unregistered securities. The Coinbase insider trading allegations have sent shockwaves across the industry, and it has emerged that the regulator was probing Coinbase. Binance U.S. responded by delisting one of the tokens mentioned as a so-called unregistered security – AMP. Since the insider trading filing, SEC chairman Gensler has gone on record saying that he does not see a difference between cryptocurrency exchanges and traditional stock trading venues, continuing that there are “inherent conflicts of interest” with exchanges that act as market makers. The SEC’s wrath continued last week when it charged 11 people behind the Forsage website which it has called a “crypto pyramid scheme,” and which cost users $300 million. While the SEC and the CFTC battle it out to establish who should have regulatory oversight of the industry, the Senate Agriculture Committee introduced a bill this week, if passed, would see Bitcoin and Ethereum classified as commodities and give the CFTC oversight of the exchanges that list them for trading. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 days agocoindesk
Crypto’s Future Depends on Security, Ledger Exec Says
Alex Zinder, global head of hardware wallet maker Ledger Enterprises, joined CoinDesk TV’s “First Mover,” to discuss Solana’s $5 million exploit and what crypto needs to do to broaden adoption.
5 days agocointelegraph
US lawmakers request crypto firms provide info on diversity and inclusion
“There is a concerning lack of publicly available data to effectively evaluate the diversity among America’s largest digital assets companies," said the letter.
5 days agocoindesk
Crypto Becomes Next Financial Sector Under US Lawmakers’ Diversity Lens
Rep. Maxine Waters (D-Calif.), the chairwoman of the House Financial Services Committee, has asked 20 of the largest cryptocurrency firms doing business in the U.S. to explain their hiring practices as the panel adds the digital assets industry to the financial sectors it’s questioned about employment diversity.
6 days agocryptodaily
Next Generation DeFi Gnox (GNOX) Showing Early Strength Like Uniswap (UNI) And Aave (AAVE) Of Last Cycle
Every crypto market cycle features protocols that burst onto the scene and cause a massive disruption to the status quo. These protocols typically target highly practical market verticals, and the native tokens of these projects go on to see explosive gains. This article features a protocol hailed by several experts as a serious contender for the next breakthrough project of the new generation. Gnox (GNOX) Gnox offers yield farming as a service and aims at revolutionising the realm of DeFi (decentralised finance) earnings. Instead of being reserved for the select few with time and technical ability, Gnox brings DeFi investment to all crypto investors. The GNOX token represents a single investment vehicle facilitating meaningful participation in DeFi. Gnox features a treasury which is the first treasury designed for investors. Deployed in DeFi protocols to generate yield, it provides all investors with a monthly stablecoin reflection. Funded via buy and sell taxes, when GNOX launches on the open market, this capital fund will grow in value. As the capital sum of the treasury accumulates, so will its ability to deliver more significant reflections. The market has not priced in Gnox’s passive income stream, making this project undervalued. With Gnox bringing DeFi investment to a broader percentage of market participants, the potential for this protocol is colossal. Uniswap (UNI)Uniswap changed the face of DeFi forever. This DEX (decentralised exchange) became the blueprint for building a successful decentralised exchange. Uniswap introduced greater swap efficiency for traders and allowed investors to generate yield by creating LP (liquidity provider) tokens by introducing an automated market maker system. This removed the intermediaries involved in the swapping process and meant traders interacted with smart contracts. Uniswap enabled instant swaps and has become the foundation of all subsequent DEXs. Uniswap now has liquidity depth that rivals some of the largest CEXs (centralised exchanges), and UNI, the governance token of the protocol, trades at $6.92, down from its ATH (All-Time High) of $44. The rise of this token was extraordinary; at the start of 2021, it was valued at $4.70 and just five months later hit its ATH.Aave (AAVE)Aave is the largest protocol ranked by TVL (Total Value Locked) and introduced and popularised one of the most utilised functions in DeFi- permissionless lending. Lending is one of the core aspects of TradFi (traditional finance) and has driven economic growth globally. Aave delivered the ability to access funds instantly through collateralisation in a permissionless manner. This protocol provided a critical financial service to anyone with an internet connection. AAVE, the governance token, experienced explosive growth proportional to the development of the protocol. It was valued at $90 at the start of 2021 and by May and reached $632. Final ThoughtsProtocols that deliver value to the ecosystem will always grow. Uniswap pioneered the way to develop DEXs, Aave brought critical financial services to the blockchain, and Gnox makes DeFi investment equitable and accessible. Investors should always follow value, and price appreciation will naturally follow.Find Out More Here: Join Presale: https://presale.gnox.io/register Website: https://Gnox.io Telegram: https://t.me/gnoxfinancial Discord: https://discord.com/invite/mnWbweQRJB Twitter: https://twitter.com/gnox_io Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
6 days agocointelegraph
Crypto firms failed to deliver 'promised benefits' from lawmaker-backed incentives, says nonprofit
“At a minimum, the public should have a say in these crypto handouts," said the Tech Transparency Project.
7 days agocoindesk
US Lawmakers Move to Clarify Definition of 'Brokers' in 2021 Infrastructure Law
A bipartisan group of U.S. lawmakers want to ensure that the definition of a crypto "broker" for tax reporting purposes does not capture parties that cannot report crypto transactions for tax purposes.
7 days agocryptodaily
Gucci Now Accepting ApeCoin
Fashion brand Gucci has announced that it is adding ApeCoin to its list of accepted cryptocurrencies. Gucci Customers Can Pay With APE Gucci will now be accepting APE payments. The luxury fashion house announced the news via its Twitter handle on Tuesday, revealing that the fashion house has started accepting ApeCoin payments as ‘yet another step in the House’s exploration of Web3.’ The announcement revealed that customers could pay in ApeCoin via the BitPay app for in-store purchases at certain Gucci boutiques and retail outlets across the United States. This means that APE will join a series of other leading cryptocurrencies that are already accepted as payments at Gucci stores. The ApeCoin crypto was launched in March 2022 by Yuga Labs, which is the entity behind the wildly popular Bored Ape Yacht Club NFTs. Since then, it has seen a rapid rise in popularity, owed partly to its connection with the sought-after NFT collection. Gucci’s Crypto Advances The House of Gucci has been making decisive steps of advancements into the Web3 space. The fashion giant has been dipping its toes in the NFT waters and has also entered several Web3 deals with companies like 10KTF, SUPERPLASTIC, and SuperRare. In May 2022, the brand started accepting cryptocurrencies as payment for in-store purchases at specific outlets in the US. Some of these accepted cryptocurrencies include the popular Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, Shiba Inu, and several stablecoins. The brand has also entered the metaverse with the virtual Gucci Garden that was launched on Roblox in 2021 and has since attracted millions of visitors. It even successfully sold a virtual designer purse on the platform at a rate higher than the actual price of the original purse. Other metaverse conquests for Gucci include designing ‘skins’ for the digital avatars on Pokemon Go and Animal Crossing and purchasing virtual land in The Sandbox. Web3 Attracts Luxury Brands Besides Gucci, other fashion brands are also embracing crypto and Web3. Most recently, luxury fashion retailer Philipp Plein announced crypto payment options for his upcoming store in London’s Mayfair. Other luxury brands are also adapting themselves to leverage web3 for enhanced customer experiences. For example, to mark the occasion of its 22nd anniversary, luxury brand VERTU Paris partnered with Binance to launch the new VERTU Constellation X Ulm smartphone through an exclusive sales process. Swiss watchmaker TAG Heuer has also launched a smartwatch feature that will allow owners to display their NFT collections. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
8 days agocryptodaily
The Magic Square Beta Has Arrived
Magic Square is launching Phase I of the Magic Store Beta after the completion of seed funding supported by Binance Labs, Republic Capital, KuCoin Labs, DAO Maker, GSR, alongside other leading investors in the blockchain space. The first app store in the crypto space is finally live. Over the course of the last few months, Magic Square witnessed much anticipation with over 100,000 people signing up to Phase I of the Magic Square Beta. In Phase I of the Beta, the Magic Store would be visible to everyone, and a selected group of Magic Square community members would have exclusive access to use and earn throughout the experience. In the future Beta phases, more and more Community Members would gain access to Use and Earn. The Magic Store goes beyond a decentralized solution. It is home to all crypto applications. What is the Magic Store? The Magic Store is a central place for users to discover and access all kinds of crypto apps, NFTs, DeFi, Metaverse, GameFi, Exchanges, and more, filtered through searchable categories. Up until now, discovering new crypto applications has not been easy: Apple and Android Stores feature very few crypto-related applications, and alternate “dApp store” databases have proven to be extremely limited in their utility for app users and creators alike. “Our goal as a platform is to create an integrated, interoperable, united system to make using crypto intuitive and secure.” said Andrey Nayman, CEO and founder, “The fragmented reality of the decentralized sphere is barring wider adoption of a technology that has revolutionary potential, and Magic Square is working to change that.” The Magic Store provides a utility-rich interface for crypto-app discovery. At the heart of the Magic Store vision, is the quality assurance it promises. Magic Square has introduced a unique system of community validation to ensure that all featured apps on the Magic Store are secure and of a high-quality standard. Community App Validation Decentralization is inevitable to make sure that the products, apps, and services you use are trustworthy. Verifying that the crypto apps you use are quality has not been simple, that is, until now. On the Magic Store, each app must pass through a rigorous community validation process to verify that it meets quality and security standards before it is featured on the Magic Store. The implications for this feature are huge for crypto app users and creators alike. What does this mean for you as a Magic user? The community validation process ensures the project itself is legitimate. You will find the scoring of each app before you start using it. You will be the person to decide for yourself if it will fit your needs and meet your personal standards based on the scoring of the Magic Community validators. As a Magic Square user, you can apply to become a validator yourself and earn rewards for reviewing and voting on new apps. You can also settle for use-to-earn rewards and earn tokens for leaving useful reviews, comments, and likes for other users to benefit from. The bottom line is that the Magic Store enables you to stop wasting time and energy worrying about whether an app is good enough, and instead, scan through easily searchable categories on the Magic Store to ease your crypto journey. How will developers benefit? Crypto app developers, up until now, have needed to invest disproportionate amounts of time and money into marketing campaigns, creating their own websites, building communities, establishing credibility, and more. Developers have to pass their apps through the community validation process as a first step. Once validated, the apps will be immediately made accessible, searchable, and trusted by eager crypto users. Magic Square provides additional benefits for every developer, such as grant funds to promote discovery and build traffic, as well as Magic Square sponsored contests and the use-to-earn model which promotes traffic across the entire ecosystem. What do beta users get? The Magic Store is only the beginning. Beta users in the first phase can now access the Magic Store to explore community-validated apps and searchable categories with a user-friendly interface. The Magic Square ecosystem is only getting better as it materializes. What can users look forward to? Whether you’re a beta user, a developer, or you’re learning about the Magic Store for the first time, there is so much to anticipate for the future of crypto apps and the Magic Square ecosystem. Magic Square is in the process of building onto the Magic Store with supporting features that will make the product exceedingly attractive to users and creators alike. There will be an interface called “Magic Spaces” which will be a personalized space for users to manage and use all of their apps within internal Magic Square tabs. Magic Spaces will eliminate the need to download apps onto devices or open them in external websites or platforms. Everything will be consolidated, simplified, and streamlined inside Magic Spaces. The “MagicID” will be the entry point into the Magic Spaces interface, enabling you to log in to all of your apps with one secure tap. Self-Sovereign Identity (SSI) technology will keep you in control of all of your app permissions, and you’ll be able to manage your privacy easily from within the Magic Square app. Ready to show the world your App? 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About Maker

The live price of Maker (MKR) today is 1,110.32 USD, and with the current circulating supply of Maker at 977,631.04 MKR, its market capitalization stands at 1,085,487,603 USD. In the last 24 hours MKR price has moved 39.13 USD or 0.04% while 11,233,173 USD worth of MKR has been traded on various exchanges. The current valuation of MKR puts it at #58 in cryptocurrency rankings based on market capitalization.

Learn more about the Maker blockchain network and how it works or follow the price of its native cryptocurrency MKR and the broader market with our unique COIN360 cryptocurrency heatmap.

Launched in December 2017, Maker (MKR) cryptocurrency is an ERC-20 token that is used for the collective governance of MakerDAO, Maker Protocol and DAI stablecoin. Maker Protocol is a decentralized application (DApp) created on the Ethereum blockchain. It is used for minting DAI, a stablecoin soft-pegged to USD (at 1:1) that is ueed against crypto assets deposited into the protocol as collateral. 

MakerDAO, on the other hand, is an open-source Ethereum-based Decentralized Autonomous Organization (DAO), founded in 2014. It is responsible for the management of the Maker Protocol as well as the DAI stablecoin.

With a TVL (Total Value Locked) figure in the billions, MakerDAO is among the biggest DeFi platforms in the crypto space. It is supported by Maker Foundation, which bootstraps the MakerDAO system and makes sure that it functions and thrives as a fully decentralized organization. Both MakerDAO and Maker were founded by Rune Christensen, a Danish entrepreneur.

The main purpose of MKR token is to act as a governance tool and to ensure that DAI remains a transparent and efficient stablecoin at all times. MKR token holders vote on governance proposals for upgrades/changes to Maker Protocol, and the token per se acts as a source of recapitalization, whenever Maker Protocol runs a deficit.

MKR price

The MKR coin launch coincided with that of Maker ecosystem’s other token at the time, Single Collateral DAI (SCD), in December 2017. It witnessed sharp gains after release, and reached almost $1800 on Jan. 20, 2018, amid bullish market conditions. 

Thereafter, MKR price traded mostly within the range of $400 to $700 for the next 3 years and broke out of the $1,000 resistance after a long time on Jan. 7, 2021. Like most cryptocurrencies buoyed up by the broader market surge, MKR coin too rallied on to breach multiple resistance levels and recorded its all-time high of $6,347 on May 3, 2021. MKR’s fully diluted valuation stood at well over $6 billion at that point. A bearish phase followed, however, and MKR soon lost a fair bit of ground, spiraling down to below $2,000 within the next 20 days. 

While MKR price showed some signs of resurgence later in August that year – crossing $4,000 for the first time since the May all-time high — it couldn’t sustain that level for long. According to our MKR live price chart, the coin traded sideways and downward thereafter, to gradually fall below $1,000 again in Q2, 2022.

How MKR works

Both the native tokens of the Maker ecosystem – DAI and MKR — are based on the ERC-20 token standard, and are hence secured by the Ethereum blockchain. Apart from facilitating governance of DAI, MakerDAO and Maker Protocol, MKR token also works as a recapitalization resource for the Maker Protocol whenever needed.

Each MKR token is considered equal to 1 vote when voting on the Maker ecosystem’s governance proposals. The MKR price appreciates and drops in accordance with the adoption and success of the DAI stablecoin.

The issuance and burning of MKR is done through a system of interdependent mechanisms which collectively ensure that the circulating DAI tokens remain fully collateralized by crypto assets and that the stablecoin consistently maintains its soft peg to the US Dollar. The crypto collaterals are stored in Ethereum smart contracts called Maker Vaults. 

New MKR tokens are issued and sold for DAI tokens, through a Debt Auction, whenever the Maker Protocol’s debt exceeds its surplus. This is done to recapitalize the system. On the other hand, MKR tokens are bought back with DAI, through a Surplus Auction, and subsequently burnt, whenever the Maker Protocol’s surplus exceeds its debt. This mechanism ensures the responsible behavior of MKR holders since bad governance can lead to loss of value for MKR tokens. 

MKR news, updates and highlights

In a significant development for the MakerDAO project and MKR coin, the network upgraded their native stablecoin from Single-Collateral DAI (SCD) to Multi-Collateral DAI (MCD) format, on Nov. 18, 2019. The upgrade allowed for use of multiple crypto assets as collateral for creating DAI tokens through the Maker Protocol. The development also strengthened Maker ecosystem’s position as one of the leading DeFi platforms in the industry and paved its path for becoming the leader in that space.

According to more recent MKR news, it was announced in April 2022 that MakerDAO will be deployed on StarkNet, a Layer-2 zero-knowledge scaling solution for Ethereum. The integration will help improve the multichain capabilities of DAI stablecoin, by reducing its transaction cost and increasing the throughput. 

Frequently asked questions about MKR

  • Is it possible to mine or stake MKR?

No, you cannot mine MKR coins. Almost 1 million MKR were pre-mined at the time of the token’s launch. You can, however, stake MKR coins to earn yield.

  • What are some of the best wallets for MKR coins?

You can store your MKR coins in any ERC-20 compatible wallet including Ledger, Trezor, Trust Wallet and MetaMask.

  • What can you do with MKR tokens?

You can use your MKR coins to govern the Maker ecosystem or earn yield on them via various exchanges.

  • How can you buy MKR tokens?

The best way to buy MKR tokens is using a reputable crypto exchange. You can trade popular coins like ETH, BTC, etc. for MKR. 

Maker Price1,110.32 USD
Market Rank#58
Market Cap1,085,487,603 USD
24h Volume17,775,511 USD
Circulating Supply977,631.04 MKR
Max Supply1,005,577 MKR
Yesterday's Market Cap1,087,364,200 USD
Yesterday's Open / Close1,073.11 USD / 1,112.24 USD
Yesterday's High / Low1,116.08 USD / 1,052.62 USD
Yesterday's Change
0.04% ( 39.13 USD )
Yesterday's Volume11,233,173 USD
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