What is MKR used for?

Modified on Sat, 18 Feb, 2023 at 8:10 PM

The MKR coin is a governance token of MakerDAO, meaning that holders of the coin are able to propose policies and changes to help develop the system in a better direction or vote on others’ proposals. These proposals may be related to interest rate adjustment, or even a request for a new addition of coins. This systematic function is upon the basis of being a Decentralized Autonomous Organization (DAO) as it allows all users in the system to have the power to make big systematic changes.

Moreover, the MKR coin is also a utility token that is used for interest rates in the process of depositing-withdrawing funds on the Marker Protocol platform.


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