Making Maker: August 2019

August 30, 2019

Another month down means another month closer to the release of Multi-Collateral Dai (MCD). And, yes, we’ve got updates, including a new online MCD roadmap and an overview of the Emergency Shutdown process. We also have news regarding Maker Governance polling, a recap of Blockchain Week Berlin, and more. But before we rehash the happs, let’s take a look at the most current statistics from

  • 1,427,691 ETH locked up 
  • 1.3276% of the entire ETH supply is locked up in Maker smart contracts
  • 76,875,445 total Dai supply

Multi-Collateral Dai (MCD) Updates

The MCD Roadmap Is Online

An overview of critical milestones that must be achieved before Multi-Collateral Dai goes live is now available.  Check it now, and peek at it often.

The MCD Roadmap.

Introduction to Emergency Shutdown in Multi-Collateral Dai

On August 12, we provided users of the Maker Protocol with an overview of the Emergency Shutdown process, including what Emergency Shutdown is, how it is initiated, and when. We also provide information regarding how CDP owners and Dai holders can withdraw collateral from the system after shutdown.

Governance Updates

An Update to Maker Governance Polling

We’ve made improvements to the Governance Voting Portal in August. MKR holders can now vote on any number of polls simultaneously, without going through the vote proxy or sending MKR to the DSChief (the voting contract). Additionally, users can participate in an Executive Vote and Poll at the same time. 

A series of Governance Polls and Executive Votes this month resulted in an overall stability fee decrease to 18.5% from 20.5% at the end of July. Numerous factors drove the fee changes.

Here’s the polling and voting history:

To stay current on Governance, Risk, and Community issues, bookmark the MakerDAO Public Events Calendar. Newcomers to Maker might want to review our series of posts on the MakerDAO Governance Risk Framework.

Community Highlights

The Maker Foundation has awarded a community grant to Sablier, the team creating a decentralized app for continuous payments. Great for those in the gig economy, it can be used to send payments every day, hour, minute, or….you decide!

Sablier will use grant funds to expand its team and ship its mobile-first dapp for continuous salaries.

To stay current on Maker Community meetings, bookmark our Community Playlist on Youtube.

Collaboration and Partnership Highlights

The number of Dai use cases in Korea continues to grow! Thanks to PlusCoin and Metaps, the Dai Cryptocard is now live and accepted at over 70 franchises in Korea, including Emart24 and Taco Bell. 

Blockchain Week Berlin Recap

Mariano Conti, our Head of Oracles, spoke on the DAO panel at the Web3 Summit. He discussed the current and future state of Decentralized Autonomous Organizations and the challenges facing DAO governance and voting.  

Mariano Conti, our Head of Oracles, on the big screens during the Web3 Summit at Blockchain Week Berlin.

Gustav Arentoft, our Business Development lead in Europe, spoke at multiple events (conferences, meetups, hackathons) and on various topics (DeFi, Dai, and blockchain adoption). Meanwhile, technical consultant Charles St. Louis joined Maker Foundation grantee Gas Station Network on stage at the MetaCartel Demo Day.

Software engineer Ethan Bennett attended Dappcon to talk about how DeFi offers opportunities to incorporate new approaches to economic thinking. He argued that some new and important economic ideas tend to be forced aside by entrenched ideologies. He also described complexity economics (the approach of analyzing markets as complex, nonlinear systems) as an example of a newer idea.

Maker Software Engineer Ethan Bennet discussing the ways DeFi can improve on traditional finance in key ways. 

Finally, we celebrated the first anniversary of the Dai Dappy Hour, which was born at ETHBerlin last year. David Utrobin from our Community Development team helped to plan the event and also helped to craft and facilitate a fun scavenger hunt, which utilized the Berlin.Bounties.Network

Dai Happy Hour in the legendary Room77, the first brick-and-mortar establishment to accept crypto.

HackAtom Recap

Early in August, 80 people participated in the Maker-Sponsored Cosmos HackAtom hackathon in Seoul, South Korea. Around 20 teams competed to build applications and services that utilize Dai in the Cosmos SDK.  

Christopher Goes, Protocol Developer and Researcher at Cosmos; Sunny Aggarwal, Research Scientist at Cosmos; Brian Crain, Chorus One’s CEO; and Doo Wan Nam, MakerDAO’s Korea Lead. Photo courtesy of Cosmos.

Upcoming Events

Join us at DeFi Summit London, Sept. 10 and 11, for discussions on tokenized real-world assets in DeFi; the past, present, and future states of OasisDEX and its role in the DeFi ecosystem; and regulation of DeFi—the international outlook and prospects for global coordination.

On Sept 16, Maker’s Japan community lead Kathleen Chu will join a panel discussion on the dapps environment at the 2019 Tokyo Blockchain Game Conference 2019.

To see more events we sponsor, participate in, or plan to attend, head to our Events page, and bookmark it!

Reminder: If you’re organizing a small event that incorporates Maker or Dai—whether it's a meetup, panel, talk, workshop, or all of the above— we want to support you! Learn more about our global meetups and micro-grants initiative

The Latest Dai Integrations

OpenLaw Finance has integrated Dai as the medium of exchange for legally compliant tokenized securities, tokenized real estate, fixed income products, and smart derivatives. The move is a big step in helping to make DeFi a reality.  

Dai is now supported on the Enjin Mobile Wallet! In addition to its gaming ecosystem, the wallet also has other goodies, including token swaps and block explorer. 

Dai has been added to and paired with its Visa card. Users can easily convert cryptocurrencies into fiat and spend Dai at over 40 million merchants around the world.

Users of SOOHO, a blockchain security and compliance company, can now pay for smart contract security assessment services with Dai.

Argentina's Coinfabrik now accepts Dai as payment for its services. The organization has provided audit and consulting services to several of our partners, including Taringa and  

Dai is now the first stablecoin in the Pundi X payment platform. XWallet users can now top-up and use Dai at XPOS merchants. Starting in September, 50,000 MakerDAO-branded XPASS cards will be available—and yeah, they look great!  

The new MakerDAO-branded XPASS card.

The News Dot Asia, one of Korea’s largest English media outlets, now accepts Dai as payment for its services, including PR and interviews.

Also in Korea, Travel dNation, a blockchain-based travel platform and community, now accepts Dai for advertising fees. 

Blockchain and smart contract auditing company CertiK now accepts Dai as a payment option for its services. CertiK has worked with over 200 blockchain companies, including Binance and Ethereum. 

The Maker CDP portal and Dai are now integrated with the Singapore-based Huobi Wallet. This move brings users one step closer to transparent and sustainable finance. 

We Have a T-Shirt Design Winner!

Last month, we asked our Japanese Twitter community for T-shirt ideas centered around Dai for Devcon. A few community members participated, but @makoto_inoue emerged as the winner. We love his idea to combine Dai with the God of Wealth. The final design will be revealed before Devcon5 in Osaka, Japan. Congratulations Makoto, and thank you to all who participated!

The Maker Foundation Is Hiring!

The Maker Foundation is looking for awesome people to join our growing, hard-working, and overall badass team. Check out our open roles and reach out if you’re interested!

Learn more about MakerDAO:





August 30, 2019