Maker (MKR) Launching at LCX Exchange
by LCX Team · May 8, 2021
We are excited to announce support for Maker Protocol’s MKR token. Deposits will open tomorrow. Trading will start next week. Trading Pairs will be $MKR / $LCX and $MKR / $USDC.
Our LCX community voted to get Maker protocol (MKR) listed at LCX Exchange. The Maker token (MRK) is a governance token that is used to govern and recapitalize the Maker protocol. Holders of the token can participate and vote on changes to the protocol’s smart contract and system parameters such as Stability Fees and the Dai Savings Rate (DSR).
$MKR launching at LCX Exchange
Login or Register nowMaker is a smart contract lending platform that enables users to take out loans by locking-in collateral in exchange for Dai. It was founded by the Maker Foundation in 2015 as an open-source project to offer economic freedom and opportunities to anyone, anywhere. In 2017, it launched the Maker governance token (MKR) and its first stablecoin iteration known as the Single Collateral Dai (SAI), which used Ether (ETH) as collateral.
Customers can sign up for a LCX account here
and deposit MKR tokens by tomorrow.
The Maker token has two core functions: i) governance and ii) recapitalization. In terms of governance, MKR token holders are responsible for monitoring, participating, and voting on proposals or changes to ensure the overall health of the Maker protocol.
Dai is a stable, decentralized currency that does not discriminate. Any individual or business can realize the advantages of digital money.
Deposits:
Starting by tomorrow Sunday, May 9th 2021 at 13:00 PM CET, customers will be able to transfer MKR tokens into their LCX account. Customers will be able to transfer this to their LCX Exchange wallet or place orders as trading when trading starts.
Trading Pairs:
MKR / LCX starting on Monday, May 10th at 13:00 PM CET
MKR / USDC starting on Tuesday, May 11th at 13:00 pm CET
How to deposit?
- Navigate to LCX Accounts > Wallet
- Scroll down to MKR
- Click “Deposit” next to MKR and view your deposit address
- Send MKR to this address
MKR deposit processing times
30 confirmations are required before deposits will be visible in your wallets. This will take approximately 6 minutes.
Important Note: Trading cryptocurrency is complex and comes with a high risk of losing money. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product.