Greetings, Pi42 traders! We’re thrilled to announce the arrival of Maker (MKR) on our platform. Now you can effortlessly buy, sell, and trade MKR tokens using Indian Rupees (INR) right here on Pi42.
What is Maker (MKR)?
Launched in 2015, Maker is a pioneering project at the forefront of Decentralized Finance (DeFi). It’s the governance token for the MakerDAO platform, which offers:
- Decentralised Lending and Borrowing: MakerDAO facilitates peer-to-peer lending and borrowing of cryptocurrencies through a system of collateralised debt positions (CDPs).
- Stablecoin Issuance: The platform powers the generation of DAI, a decentralised stablecoin pegged to the US dollar.
- Community Governance: MKR token holders play a crucial role in shaping the future of the MakerDAO protocol through voting proposals.
Key Features of Maker:
- Transparent and Secure: MakerDAO operates on the Ethereum blockchain, ensuring transparency and immutability of all transactions.
- Algorithmic Interest Rates: The interest rate for borrowing crypto on MakerDAO adjusts automatically based on supply and demand.
- Decentralised Governance: MKR token holders govern the platform, promoting a fair and community-driven ecosystem.
Trading MKR/INR on Pi42:
Ready to explore the possibilities of Decentralized Finance with Maker? Here’s how to get started:
- Login: Access your Pi42 account.
- Navigate: Head to the trading terminal.
- Select the Pair: Choose MKR/INR from the dropdown menu.
- Define your Position: Enter the desired investment amount, select your preferred leverage (if applicable), and adjust the percentage according to minimum asset requirements.
- Set Limits (Optional): Establish Take Profit and Stop Loss orders to manage risk.
- Execute your Trade: Click Buy/Long or Sell/Short based on your market analysis.
- Track your Trade: Monitor your open positions in the “Orders and Positions” section below the trading chart.
Unlock the Potential of Maker-INR
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.