Multi Collateral DAI and Savings Rate to Launch

dai logo oct 2019 1

The much anticipated Multi Collateral Dai (MCD) and the Dai Savings Rate (SDR) is to launch on November 18th according to an announcement at Devcon V by Rune Christensen, CEO of the Maker Foundation which manages the MakerDAO token that acts as sort of a bank of last resort. “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 said before adding: “The DSR will not only allow users to earn on Dai held, but will also immediately create an entirely new dimension for innovative Maker protocol integration on the backend of DeFi dapps.” Dai is currently only backed by ethereum, but once the MCD launches, BAT tokens could be used to collateralize DAI as well as other assets and tokens. There’s a discussion on whether security tokens would require official…

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