Making Maker: June 2020

30 June 2020

In June, MKR holders accepted four new assets into the Maker Protocol: KNC (Kyber Network), ZRX (0x), TUSD (TrueUSD), and USDC-B (Circle’s USDC token with different risk parameters), bringing the total number of collateral types that can be used to generate Dai to eight. The Maker voting community continues to work together to bring financial stability and transparency to the world economy.

There’s much more to recap, but first, let’s look at the numbers from daistats.com as of June 30, 2020, 2:30pm EST. 

Total Dai: 128,536,486.81 

Dai from ETH: 115,775,234.42 (90.07%)

Dai from BAT: 133,437.68 (0.1%)

Dai from WBTC: 10,000,062.74 (7.78%)

Dai from  KNC: 104,914.15 (0.08%)

Dai from ZRX:  3,086.4 (0%)

Dai from USDC-A: 1,336,569.06  (1.04%)

Dai from USDC B: 0 (0%)

Dai from TUSD: 0 (0%)

ETH Stability Fee: 0.25%

BAT Stability Fee: 0.25%

USDC-A Stability Fee: 1.00%

USDC-B Stability Fee:  50.25%

WBTC Stability Fee: 1.25%

TUSD Stability Fee: 0.25%

KNC Stability Fee: 4.25%

ZRX Stability Fee: 4.25%

Dai Savings Rate: 0%

Dai in DSR: 16,778,073.51 (13.05%)

Vaults Opened: 10,744

Blog Round-up

You’ve Learned How to Open a Maker Vault––Now What?

The Maker Foundation’s latest video, How to Open a Maker Vault, demonstrates how easy it is to generate the Dai stablecoin. Watch:

How Dai-enabled Debit Cards Are Driving Maker Protocol Adoption

Crypto debit cards connect blockchain tech and digital assets to traditional payments systems by tapping into the existing Visa and Mastercard infrastructure. Integration of Dai into these cards means integration of the Maker Protocol and the facilitation of new financial services.

The integration of Dai with debit cards provides an essential bridge between crypto and the traditional financial world.

Dai Gaming Initiative Update: The First MakerDAO Game Bounty Winners

Two early-stage projects, Marble Cards and Battle DAO, each received a 1,500 Dai bounty for Best Usage of Dai. Both projects are highly innovative and deserving of the prize. Congratulations to them!

Decentralized Finance (DeFi) Trends

Decentralized Finance (DeFi) has become an exciting, highly valued movement in the blockchain space, with impressive innovation and growing traction over the last two years. And the Maker Protocol is front and center.

Worth Repeating

What is Dai?  

How Dai Became A Favorite Crypto in Latin America

For Latin Americans, the true safe-haven currency is the US Dollar. It’s not always easy to buy, though, which is where MakerDAO’s Dai stablecoin comes in. Dai, built on the Ethereum network and underpinned by a system of smart contracts and decentralized price feeds, is designed to maintain a soft-peg to the US dollar.

Developer Resources

Maker Protocol Technical Documentation

Everything—everything— you need to know about the upgraded Maker Protocol now exists in (highly technical) documentation. Get your geek on!

Developer Guides

MakerDAO’s Developer Guides help anyone integrate with Maker’s smart contracts, SDKs, APIs, products, and partners. Bookmark the guides and review them anytime.

Governance Updates

KNC and ZRX Approved by Maker Governance as Collateral Types in the Maker Protocol

MKR holders have accepted KNC (Kyber Network) and ZRX (0x) as new collateral assets in the Maker Protocol. Anyone can now connect a wallet to Oasis Borrow to lock either type in a Maker Vault to generate Dai.

TUSD and USDC-B Approved by Maker Governance as Collateral Types in the Maker Protocol

MKR holders have accepted TUSD (TrueUSD) and USDC-B (the USDC token with different risk parameters) as new collateral assets in the Maker Protocol. Both tokens are US Dollar-backed ERC20 stablecoins and can now be used to open Maker Vaults in order to generate Dai. NOTE: As of this writing, TUSD vaults are temporarily unavailable due to a TUSD-unannounced contract upgrade.

May Governance Review

June’s Governance Polls and Executive Votes 

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.

Rune Radio 

In early June, Maker Foundation CEO Rune Christensen participated in two discussions at CogX, one of the largest tech events in the world. First, Rune shared his thoughts on the current state of the economy and how DeFi can play a future role. Later, he participated in a fireside chat titled Society 2.0: From Technology-Powered UBI to Decentralised Justice. See all of the videos from CogX 2020 here.

A few days later, Rune attended the BlockDown 2.0 virtual conference (June 18-19), joining the DeFi vs. CeFi debate. Taking the DeFi side, he discussed why DeFi matters to people and businesses outside of the blockchain industry. 

Rune championed DeFi during Blockdown 2.0.

The Latest Integrations

Morpheus.Network has integrated Dai into its SAAS middleware platform as part of an automated supply chain workflow. Watch the Dai/BTC demo now:

WalletPasses, a new release from Wyre, allows users to top up their wallet using an Apple Pay widget, making crypto purchases (including Dai) that much easier. Plus, receive push notifications (ex., "Executive Vote in 1 hr.")! Learn more by reading this Maker Twitter thread.

Maker Vaults and the Dai Savings Rate are now integrated into Jelly Swap.

Dai is now supported within the ONTO wallet, which offers management of digital identities, data, and assets.

Community Highlights and Event Recaps

The first Southeast Asia DeFi Week was held June 1-5, and Maker spearheaded the event with the Bitcoin Malaysia group. Attendees learned five different Defi technologies (Maker, Kyber, Melon Protocol, Aave, and WBTC) over five days. The event, which was live-streamed to communities throughout Southeast Asia, earned 3K views over the week. 

In early June, Maker reps attended Mainnet 2020, organized by Messari.

Greg Diprisco, Head of Business Development for the Maker Foundation, presented twice. First, he provided an update on the Maker Project. Next, he joined the founders of Compound and Synthetix on a DeFi panel titled Money Legos: Structured Finance 2.0.   

On June 2, David Utro, the Maker Foundation’s Core Community Lead, moderated a very special DAORushWeek edition of the Maker Community Call. It was a great experience for those just learning about MakerDAO. Watch a recording of the call now:

On June 5, Maria Magenes, Maker’s Community Lead in Europe, hosted the first FriDAI Brunch organized by Maker. The inaugural gathering featured a conversation with two young professionals in the blockchain industry: Gustav Arentoft, the Maker Foundation’s Business Development Associate in Europe, and Lea Schmitt, Product Partnership Manager at Centrifuge. Get a link to the conversation here.

Maker’s Maria Magenes interviews Gustav Arentoft and Lea Schmitt about working in the Web 3.0 space.

Be sure to follow Maria on Twitter to learn all about her FriDAI Brunches. 

On June 11, Maker’s Ambassador to Africa, Sahabia, hosted the second meetup of DeFi Africa. He interviewed Frisco D’Asconia (Afrikanus Kofi Akosah Adusei), journalist and president of Africa Blockchain University. D’Asconia shared his insights on the future of DeFi in the region.

Also on June 11, Maria Magenes participated in a lecture about blockchain-powered asset management to MBA students of Oxford’s Saïd Business School (SBS). Maria provided an introduction to the Maker Protocol and the smart contracts that power it.

On June 8, Gustav Arentoft joined Lex Sokolin, CMO and Global Head of Fintech for ConsenSys, in a panel discussion titled Developments in Decentralised Finance. The talk was part of the webinar series Crypto, Blockchain & Beyond—Fintech & the New Normal, hosted by Europe's largest fintech society, UCL Fintech, to educate and inspire members to get involved in the DeFi space. Watch here.

On June 23, Kathleen Chu, the Maker Foundation’s Japan Community Lead, spoke at the monthly meeting of Yasashikunai (Not-so-easy) DeFi about Maker governance and the utility of the MKR token.

 Kathleen Cbu explains MakerDAO and the role of MKR token holders.

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

Upcoming Events

July 2: DeFi x Gaming meetup with Axie Infinity and MakerDAO (Virtual)

July 2: LongHash Hatch 4: Through the DeFi Looking Glass (Virtual)

July 3: FriDAI Brunch #2 Potential of DeFi in India and Malaysia (Virtual)

Catch the DeFi x Gaming fireside chat with Aleksander from Axie Infinity and Maker’s Gustav Arentoft on July 2.

July 4: 2020 China-Singapore Blockchain Leaders Online Summit (Virtual)

July 5: 2020 Hangzhou International Blockchain Week (Hangzhou, CN)

July 14: LenDit Fintech: How DeFi Will Reshape Global Finance (Virtual)

Sept. 15-16: Copenhagen Fintech Week 2020 (Virtual)

Sept. 22-24: Money 20/20 Europe 2020—Amsterdam, Netherlands

Dec. 9-10: Paris Blockchain Week Summit

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, or workshop— we want to support you! Learn more about our global meetups and micro-grants initiative

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!

In the meantime, stay home and stay healthy!

Learn more about MakerDAO:

Website: https://makerdao.com/

Blog: https://blog.makerdao.com

Reddit: https://www.reddit.com/r/MakerDAO/

Twitter: https://twitter.com/makerdao

30 June 2020