Maker (MKR) is Maker DAO and Maker dApp, respectively. Both are based on the Ethereum blockchain, which allows users to issue and manage DAI staboins.

Originally conceived in 2015 and fully launched in December 2017, the Maker project is tasked with operating DAI, a decentralized cryptocurrency managed by the community, Its value is soft pegged to the dollar.

MKR token as a voting stock of the organization that manages DAI; While they do not pay dividends to their holders, they do give them voting rights on the development of Maker Protocol and are expected to appreciate based on DAI's own success.

The Maker Ecosystem is one of the earliest projects in the field of decentralized finance (DeFi), which seeks to build decentralized financial products on blockchains that support smart contracts, such as Ethereum.

Dai is one of the most popular staboins (cryptocurrencies whose prices are pegged to the U.S. dollar or other traditional currencies). It's the 25th largest cryptocurrency, with a market cap of over $800 million, and it has more active addresses than USDT, the largest stablecoin on the market.

MKR's unique proposition is that it allows its holders to participate directly in the process of managing affiliates. Each Maker token holder has the right to vote on some changes to Maker Protocol, and their voting power depends on the size of their MKR shares. Some aspects on which agreement holders can vote are :

Added a new secured asset type to the protocol, allowing users to submit new cryptocurrencies to make more DAI; Modify the risk parameters of existing secured asset types; Change the token savings rate: token holders can earn savings by locking their tokens into a special contract, and the savings rate affects the profitability of that contract; Select a predictor, an entity that provides trusted off-blockchain data to the maker ecosystem;

This ability to participate in managing one of the largest stablecoin on the market drives demand for MKR tokens, and accordingly affects their value.

The launch and removal of MKR is managed by a complex system of interdependency mechanisms designed to ensure that DAI is always fully backed by other cryptocurrency assets and maintains its soft peg to the US dollar. There is no hard coding limit on the total supply of MKR.

DAI's value comes from collateral, other cryptocurrencies that users deposit when minting new DAI tokens and storing them in a so-called vault, secured by smart contracts on the Ethereum blockchain.

During price declines, the value of the cryptocurrency stored in the vault may become insufficient to fully pledge the corresponding amount of DAI. In this case, the Maker agreement automatically triggers the liquidation of the vault's collateral and uses the proceeds to pay off the vault's obligations. If insufficient tokens are generated during liquidation, the Maker agreement mints new MKR tokens to sell and cover the remaining amount, increasing the total supply.

However, in some cases, the number of tokens from the auction exceeds the limit necessary to ensure adequate collateral and it is then used by the Maker protocol to repurchase and burn MKR tokens, Reducing their total supply.

Therefore, the supply of MKR is a dynamic value that changes based on market conditions and the overall health of the DAI ecosystem.