BREAKING: Launch Date of Multi-Collateral Dai, the Dai Savings Rate, and More Announced at Devcon 5

October 9, 2019

Moments ago, before a large crowd at DevCon 5 in Osaka, Japan, CEO of the Maker Foundation Rune Christensen revealed that Multi-Collateral Dai (MCD) is ready to launch on November 18.

After a talk about what’s next on the DeFi horizon, Christensen made the announcement and emphasized the crucial role decentralized governance of the Maker Protocol will play prior to launch. He urged all MKR holders to cast their votes on November 15, reminding them that only through the executive voting process can they activate the system.  

MCD will introduce exciting new features to the Maker Protocol, including the highly anticipated Dai Savings Rate (DSR) and, of course, additional CDP collateral types

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. 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.

Today’s announcement means that MKR holders will also soon review and vote on the terms of the DSR and the risk parameters for the two first tokens being evaluated by the interim risk team—BAT and ETH. In the coming weeks, MKR holders will be provided with a number of documents to review, including the following:

  • The CDP and DAI Migration Risk Report
  • The ETH Risk Report
  • The BAT Risk Report

These documents will be posted to our official forums for discussion and review. 

Branding and Website Changes Designed to Attract New Users

Christensen also announced a redesign of the Maker website, unveiling in the process the new Dai logo. 

“In creating a new visual identity for Dai, we first took a step back to talk to the community, conduct research, and think about how we envision the future of Dai,” says Henry Doe, Head of Design at the Maker Foundation. “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 visual identity of Dai

Along with a new look and feel, the website will offer a more appealing user experience. Branding improvements and minor terminology updates will make the site more approachable and accessible to a broader audience.  

The Design and Marcomms teams began discussing site changes early this year. “The launch of MCD presented the perfect opportunity to introduce new branding, logos, and an overhauled website for Maker,” says Coulter Mulligan, Head of Marketing. “Dai needs to be accessible and understandable to all—not just to crypto fans and current Dai users—so that people everywhere can realize the role MCD will play in DeFi and see Dai’s true potential as a stable global currency." 

The website will include new user interfaces for trading, borrowing, and saving Dai, as well as new sections devoted to Maker partnerships and Dai uses cases. Further,  readers of the Maker blog can expect an increase in thought-leadership content and more variety in the types of informational and educational posts published.

The Next Generation of Dai

The Maker Foundation is building an ecosystem to help bring financial stability and transparency to the global economy—but we aren’t doing it alone. Our community, the Ethereum community, our partners in the DeFi space, and DeFi enthusiasts around the globe have all played vital roles in getting the Maker Protocol to its current place in the decentralized world. And we’re just getting started.

In many ways, today’s announcement marks a new beginning. 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. With its trustworthy framework, DeFi allows anyone on the internet to build a product that helps millions of un- and under-banked individuals gain access to financial services available only to a privileged few.

Please join us in our mission to shape the future of commerce on the blockchain. To learn more about MCD, read our MCD-related blog posts. To learn more about  MakerDAO, join the conversation on the Maker Forum.

October 9, 2019