MKR is within the top 3 most centralized tokens by holdings. As I did in February, I would not advise anyone to stockpile the MKR token. You only need it to wipe off your DAI debt. Although I have a huge DAI debt of several yearly salaries in my country, I only hold about 0.5 MKR. Here, you actively want to use the MakerDAO system. Which you're doing! gj
Cashing out is the OG meme
Thomas Torres
Adrian Walker
Why is it so centralised? Wtf
Blake Moore
Pareto distribution strikes again.
Honestly don't know. Didn't bother to research it any further.
Grayson Foster
So far what I have bought with my CDP loan:
> 2x Bitmain Z9's.
> 1 ZenCash supernode
> Leveraged at 30+ ETH since FEB.
> 3 Electric Scooters for a business (getting monthly payments).
> Several replica watches from China which I am flipping locally at few hundred $ profit each.
(using profits to pay off my DAI debt).
user, get in on this. Crypto hustlin' at its core.
Levi Reed
Gonna sage this thread all day in an effort to get more people on MakerDAO. AMA, not a whale, but Crypto cash flow rich because of this genius contract.
James Rogers
MKR will never be added because it's the emergency collateral pool. It defeats the purpose to have it as both primary and backup collateral.
They never had an ICO but they always had sell orders up on their decentralised exchange. You could buy at any time. The distribution is concentrated for a few reasons:
1) They had a token upgrade, many tokens are still held by the changer contract waiting to be redeemed
2) The dev fund still holds ~40% of the MKR
3) They made deals with venture capital firms for huge chunks of tokens.
Plenty of small fry like me own MKR. It's my second largest holding after ETH.
Nathan Clark
>other tokens
yes
>such as 0xBTC
lol no
Luke Johnson
> MKR will never be added because it's the emergency collateral pool. It defeats the purpose to have it as both primary and backup collateral.
Could you elaborate on this? You mean as emergency collateral for global settlement? Isn't the DAI supply backed? As much I use MakerDAO I haven't spend much time researching the token.
Carter Hall
The MKR token is the last resort collateral. In the event that a CDP loses value faster than it can be settled, MKR is minted and sold to make up the value. The stability fee is to pay for this "insurance" and is denominated in dai but paid in MKR, which is then burned to decrease the supply. Or, it will be when the next iteration is released (multi-collateral dai). For now PETH takes that role, which is a pooled supply of ETH in the current system, which only takes ETH as collateral.
Asher Miller
I was kinda hoping the update would be done already. Ah well, I just really wanted to stake the DGX I've been accumulating while there's still tons of time left in the bear, get some cheap deals now.