Multi-Collateral Dai system to launch on Nov. 18

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Multi-Collateral Dai (MCD) is ready to launch on Nov. 18, according to Rune Christensen, CEO of the Maker Foundation.

Christensen announced the news at the DevCon 5 conference in Osaka, Japan on Wednesday. He added that MCD will bring additional CDP (collateralized debt position) types as well as new features such as Dai Savings Rate (DSR), which will allow users to earn on their Dai holdings.

MCD will also help integrate the Maker protocol on the backend of open finance dApps (decentralized applications), per the announcement. “The launch of MCD will mark a huge milestone reached for the MakerDAO project—a turning point that will have a strong impact on the future of Decentralized Finance.”

Maker (MKR) token holders will soon be able to review and vote on the terms of the DSR, according to the announcement.