MKR (Maker) rose 5.00% in 24 hours

Gate News Bot news, September 2, according to CoinMarketCap data, as of the time of writing, MKR (Maker) is currently priced at $1610.06, rising 5.00% in the last 24 hours, with a highest point of $1625.16 and a lowest point of $1500.88, and the 24-hour volume reached $698,000.

MakerDAO is a decentralized autonomous organization aimed at creating an unbiased global financial system. Its core product is the stablecoin Dai, which can be used by anyone, anywhere, at any time. Dai is a stable, decentralized currency that is non-discriminatory, allowing individuals and businesses to enjoy the benefits of digital currency. MakerDAO also provides a decentralized platform governed by MKR token holders to manage the smart contracts that support Dai. Currently, there are over 400 applications and services that have integrated Dai, including wallets, DeFi platforms, games, and more.

Important news about MKR recently:

1️⃣ MKR will be swapped for SKY at a ratio of 1:24,000 MKR will undergo a significant token swap, converting to the new token SKY at a ratio of 1:24,000. This conversion will take a snapshot of accounts on September 8 at 13:00 and will complete the swap between September 8 at 13:00 and September 10 at 18:00 (UTC+8). Accounts holding less than 0.0001 MKR will not participate in this swap.

2️⃣ Sky Protocol actively repurchases SKY Sky Protocol (formerly MakerDAO) has repurchased 14 million USDS and 20.06 million SKY over the past week. This move indicates that the project team is actively managing the market supply of the new token, which may provide support for the price of SKY.

3️⃣ MKR-related trading services will gradually be suspended Starting from September 3, the leverage trading, perpetual contracts, and other services related to MKR will be gradually suspended. From 10:00 to 11:00 on September 8, the MKR-related spot trading pairs will be taken offline, and services such as instant exchange will be suspended. From 12:00 onwards, MKR deposits, withdrawals, and transfers will be stopped. These measures are to ensure a smooth transition to the new token SKY.

The rise in MKR prices may be related to the upcoming token swap, as investors might be increasing their holdings of MKR before the swap to obtain more SKY. At the same time, the positive buyback actions of Sky Protocol may also boost market confidence. However, as trading activities gradually pause, the liquidity of MKR may be impacted in the short term.

This message does not constitute investment advice, and investors should be aware of market volatility risks.