Maker
MKR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
MKR exhibits strong underlying fundamentals across Tokenomics (7.8/10), Market and Use Case (7.5/10), Team and Governance (7.5/10), and Security and Audit History (7.5/10), backed by mature multi-firm audits, formal verification, and proven economic mechanisms backing the DAI stablecoin. However, Active Development and Community Support lacked standalone data (-1.0) because MKR has been formally deprecated, rebranded, and migrated to the SKY token under MakerDAO's Endgame plan (at a 1 MKR to 24,000 SKY ratio). No qualifying red-flag exploit or regulatory enforcement was identified. Per the deprecated/migrated token rule, holding or purchasing the legacy MKR token is discouraged in favor of the migrated ecosystem asset.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Maker (MKR)
Maker (MKR) is a legacy governance and utility token that has been formally deprecated and migrated to the SKY token at a ratio of 1 MKR to 24,000 SKY as part of MakerDAO's rebrand and Endgame plan. Operating as an ERC-20 token on the Ethereum blockchain since 2014, MKR was designed to manage the Maker Protocol, the decentralized finance system responsible for issuing and backing the Dai (DAI) stablecoin. With the governance framework transitioning to the Sky Ecosystem, native voting and official development have shifted to SKY.
MKR functions through a dynamic mint-and-burn supply model rather than programmed vesting schedules. When the protocol operates normally, revenue generated from stability fees and liquidation penalties is utilized to buy and burn MKR, reducing circulating supply. In times of protocol debt or under-collateralization crises, new MKR tokens are minted and auctioned to recapitalize the system, meaning token holders bear first-loss liability for systemic defaults. Historically, MKR granted voting rights over risk parameters and collateral types within the Maker Protocol.
Security assessments for Maker have been conducted by multiple auditing organizations, including PeckShield, Runtime Verification, Certora, and ChainSecurity. In April 2019, a critical vulnerability involving more than $100 million in locked assets was responsibly disclosed by OpenZeppelin and Coinbase in the legacy DSChief voting contract; it was remediated and patched without any loss of user funds. Following the migration to Sky, platforms such as Wealthsimple and Newton have phased out support for MKR, and remaining holders face escalating upgrade penalties when converting to SKY.