Making Maker: February 2019

28 February 2019

Here’s the February update on the latest with Maker.

First, some key statistics. To date:

  • 2,100,835 ETH locked up
  • Over 2% of the entire ETH supply locked up in Maker smart contracts
  • 88,359,554 Total Dai Supply

Increasing the Stability Fee to 1.5%

February was a big month for governance in action. A proposal was placed into the voting structure to raise the Dai Stability Fee by 0.5%, for a rate of 1%, and then another was introduced later in the month for an increased rate of 1.5%. Key factors for increasing the stability fee were: high inventory levels, exchange rate persists below $1, and no attributable impact from the previous stability fee increase. Notably, all the decisions were collectively made in a decentralized manner by the Maker governance (MKR holders), based on the available data and its analysis.

Joining the Mexico Freedom Forum

We’re passionate about serving the underserved. We aim to unlock the power of the blockchain for everyone by creating an inclusive platform for economic empowerment. The Oslo Freedom Forum (OFF) is a thriving global community of people united by the common vision of making the world a more peaceful, prosperous, and free place. The community embodies the principles of the Foundation. This year, OFF hosted a satellite event in Mexico City.

Notable speakers included: Iranian Canadian journalist Maziar Bahari, Ecuadorian political cartoonist Xavier “Bonil” Bonilla, Mexican historian Enrique Krauze and more.

Trading Fractional Shares of Real Estate with Meridio

Meridio is empowering owning and trading fractional shares of real estate. They integrated Dai into their platform last summer to benefit from trustless trades and nearly instant settlement time. The integration is important for Meridio peer-to-peer trades, Ether balance conversion, and balance displays. Now, investors on Meridio can seamlessly trade real estate shares for Dai, which enables the benefits of a stable currency, while still gaining the efficiencies of smart contracts.

Maker at ETHDenver: BuffiDai and more

Notably, we were excited to support BuffiDai, the local currency and the backbone of the ETHDenver ecosystem. A successful dappy hour was made possible through collaboration with Burner Wallet and xDai, the Dai living on xDai chain brought to life by POA Network. Austin Griffith’s xDai.io wallet played a key role through ETHDenverWallet. The wallet was a telling, wide-scale usability test. The xDai wallet has huge implications as it can facilitate the creation of pop-up marketplaces anywhere, for free.

Through ETHDenver, we’re proud to share that we were able to raise 3066 buffiDai, 72.96 xDai, 2 Dai, through 1154 individual donations. Donations went to charity through UNICEF.fr and GRACEaid.

We kicked off BUIDLweek with an early workshop on decentralized finance with Aave. Maker hosted several workshops and talks over the weekend, including topics on Oracles, Dai.js, DSProxy, “A Year in Review” and business development.

Integrating with Maker

Developer DocumentationMany important constituents touch our ecosystem, and we’ve outlined specific methodology for each one, depending on if you’re a centralized exchange, dex, keeper, Dai holder, custodial wallet, relayer, or CDP owner. We’ve published guides and tutorials to help you understand the various approaches to integrating with MakerDAO through smart contracts, SDKs, APIs and other products. These cover pertinent topics like CDP creation, Dai, Governance, Keepers, Oracles, and more.

Here are some exciting integrations and notable use cases this month:

  • Wirex added Dai to their Wirex Visa Card, giving you the power to seamlessly spend your cryptocurrency in real life, anywhere Visa is accepted.
  • LocalCoinSwap launched the first community-owned, P2P crypto marketplace. You can now buy and sell Dai in over 190 countries worldwide and with over 250 payment methods.
  • Aave launched Aave Pay, where you can pay directly with Dai and other cryptocurrencies. Benefits include competitive exchange rates and cross-border payments.
  • Dai is now available on Counter.Market, a non-custodial trading platform.
  • FACTOR-805, a new Brooklyn condominium and retail construction, integrated Dai for payment and interest. You can invest in a Brooklyn property with Dai, and receive an expected yield of 13.24%, also in Dai.
  • Loan yourself money with MakerDAO. When Mariano Conti wanted a loan for a new Ford Focus, he didn’t go to a bank. Instead, he drew a loan from himself.
  • Bloqboard integrated CDP's directly into their lending platform. You can borrow Dai in one-click and manage CDPs from a convenient dashboard.
28 February 2019