Crypto Spotlight: Have you met MKR yet?

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Say hello to MKR

You’ve probably already heard the news, but if you haven’t, here’s the scoop – we now have two new cryptocurrencies available in the Wirex app! That’s not all though, you can also expect a €5 in WXT bonus for buying over €50 worth of these tokens.

Before you start exchanging these guys, here’s a little bit about them first.

Meet MKR (AKA MakerDAO). MKR was created in 2015 by Rune Christensen, alongside his team of developers.

What does it do

With MKR tokens, you can use them to carry out votes on key decisions that influence how the DAI cryptocurrency can be used. Think of it a little bit like eBay bidding or a voting poll, but with crypto!

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Crypto Spotlight MKR May Promotion EEA Terms & Conditions
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight Might Promotion (the “Promotion”) which is offered by UAB Wirex in the European Economic Area (“EEA”) (“Wirex”):
Timescale
1. The Promotion will run from 00:01AM (GMT) on 17th May 2021 until 11:59 (GMT) on 23rdh May 2021 (the “Promotion Period”).
Eligibility
2. This Promotion is only open to Verified users of the Wirex platform (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone) resident in the EEA region (“Eligible Participants”). For the avoidance of doubt, no other Users of the Wirex platform are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who makes a MKR cryptocurrency purchase with a minimum exchange value of at least EUR50 via debit or credit card in the Wirex app during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who make a Qualifying Transaction prior to or after the Promotion Period will not be counted.
5. Qualifying Transactions are limited to one per customer during the Promotion Period.
Reward
6. The Reward will be paid to all Eligible Participants who make a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be transferred to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex Service.
General
8. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex Users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
9. ‘Working Day’ means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
10. “Reward” means the WXT equivalent to EUR5 which will be calculated by an exchange rate set by Wirex from time to time in its absolute discretion. For the avoidance of doubt, there is no specified total Reward amount for this Promotion and the Reward may be amended or cancelled by Wirex at any time.
11. Wirex may, at its sole discretion, revise any of these T&Cs or terminate this Promotion at any time without prior notice to Wirex Users, Eligible Participants, Qualifying Participants or other third parties.
12. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
13. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.

Crypto Spotlight MKR May Promotion APAC Terms & Conditions
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight Might Promotion (the “Promotion”) which is offered by Wirex Pte Ltd in the Asia Pacific (“APAC”) region (“Wirex”):
Timescale
1. The Promotion will run from 00:01AM (GMT) on 17th May 2021 until 11:59 (GMT) on 23rd May 2021 (the “Promotion Period”).
Eligibility
2. This Promotion is only open to Verified users of the Wirex platform (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone resident in the APAC region (excluding Singapore) (“Eligible Participants”). For the avoidance of doubt, no other Users of the Wirex platform are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who makes a MKR cryptocurrency purchase with a minimum exchange value of at least USD$50 via debit or credit card in the Wirex app during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who make a Qualifying Transaction prior to or after the Promotion Period will not be counted.
5. Qualifying Transactions are limited to one per customer during the Promotion Period.
Reward
6. The Reward will be paid to all Eligible Participants who make a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be paid to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex platform.
General
8. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex Users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
9. ‘Working Day’ means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
10. “Reward” means the WXT equivalent to USD$5 which will be calculated by an exchange rate set by Wirex from time to time in its absolute discretion. For the avoidance of doubt, there is no specified total Reward amount for this Promotion and the Reward may be amended or cancelled by Wirex at any time.
11. ‘US$’ means United States Dollar.
12. Wirex may, at its sole discretion, revise any of these T&Cs or terminate this Promotion at any time without prior notice to Wirex Users, Eligible Participants, Qualifying Participants or other third parties.
13. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
14. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.
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The Maker ecosystem was one of the first DeFi projects to achieve significant success – a testament to the effectiveness of truly decentralized governance. Hello MKR, too bad I missed out on the promotion!:yum: