Multi-Collateral Dai system to launch on Nov. 18

Stablecoins • October 9, 2019, 5:03AM EDT
UPDATED: October 9, 2019, 5:02PM EDT
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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.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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