A year ago, on December 18, 2017, the first MKR vote to activate single collateral Dai was made, and the Dai Credit System became operational.

It’s been an incredible journey since, as we saw both the price of crypto crash wildly but also Maker increasingly prove itself with the resilience of Single Collateral Dai.

During the ICO bubble Maker was just another random ethereum project, but after everything crashed, we’ve seen a very positive response to our slow and steady approach of staying focused on building and releasing solutions.

And it’s working.

• Reached nearly 80M Dai in circulation
• 1.5% of total Ether supply locked up in CDPs
• 5000+ CDPs have been opened
• Maintained peg despite 90% drop in the price of ETH
• Topped 200 integrations & partnerships, including Wyre, Tradeshift

The Foundation has also grown dramatically, from only around 30 people when we launched Single Collateral Dai, to almost 80 people today.

We’ve had a lot of activity in the community, including the vote to raise the stability fee, as well as the foundation proposal vote and an exciting number of partner integrations. But these are still just very early steps.

As we look toward 2019, we are excited to bring Multi-Collateral Dai to the mainnet while making significant strides toward full decentralization. Of course, bringing on more partners and users is another key piece of reaching critical mass with MCD in 2019.

It’s been a fantastic and exciting year for Maker and the Dai community… and we’re only at the beginning! Thank you to every member of the Maker Community for coming on this journey with us and helping us create an inclusive platform for economic empowerment for everybody.