Maker Foundation’s Chief Executive Officer [CEO], Rune Christensen, spoke at DevCon 5 held in Osaka, Japan, where he revealed the launch of Multi-Collateral Dai [MCD]. Christensen went on to announce that the launch will take place on 18 November.
MCD will also be introducing several other features to the Maker Protocol like Dai Savings Rate [DSR] and additional CDP collateral types. The DSR will differentiate Dai from other stablecoins and will enable users to earn on-held Dai, while MCD will offer an option to earn savings by holding Dai.
The launch of MCD is being held as a milestone for the MakerDAO project, in light of the impact it may have on the future of Decentralized Finance. Apart from earning Dai with DSR, it would also lead the way for innovative Maker protocol integration on the backend of DeFi dapps. The blog read,
“Multi-Collateral Dai represents a tool in the DeFi toolbox that can help harness the power of money to solve global problems. Because of DeFi’s reliance on transparent, honest collaboration, even the most extreme global financial inequality might one day become a thing of the past.”
Defi may help the unbanked and the under-banked to build products and gain access to financial services. MKR holders will be voting on the terms of the DSR and the risk parameters for BAT and ETH, the first two tokens under evaluation by the interim risk team.
Christensen also took the opportunity to introduce the community with the new look of the Dai logo. Head of Design, Henry Doe, commented on the same, stating that the design included intensive research and community participation. He added,
“In doing so, we saw a great opportunity to design something that would help move DeFi into the mainstream and allow Dai to be globally recognized as a currency.”
The new design pushes the accessibility of Dai to people outside the cryptoverse to communicate the role MCD will be playing in DeFi, while promoting the stablecoin’s potential, explained Coulter Mulligan, Head of Marketing.