Making Maker: November 2020

November 30, 2020

November saw the Maker Protocol hit the incredible milestone of 1 billion Dai generated! This achievement occurred just one year after the launch of Multi-Collateral Dai. Dai interest and adoption continue to accelerate. Dai use cases are on the rise, too, and the Maker community has stepped up this month with new tools and documentation to facilitate further growth and, ultimately, full decentralization. 

MakerDAO hasn’t been short of new developments since October’s Making Maker. But before we get to them, let’s take a look at the latest figures from as of November 30, 2020, 12:10 pm PT. 

Total Dai: 1,043,499,772.77

Top 5 Dai Generators: 

Dai from ETH-A: 402,318,301.15  (38.55%)

Dai from USDC-A: 400,783,709.37 (38.41%)

Dai from WBTC: 125,077,236.09 (11.99%)

Dai from TUSD: 51,203,324.45  (4,91%) 

Dai from PAX: 20,259,076.8 (1,94%)

Dai Savings Rate: 0%

Dai in DSR: 367,704,895.93

Vaults Opened: 17,590

Blog Round-up

How Ethereum 2.0 Will Address Gas Issues and Enable Dai and DeFi to Scale

Phase 0 of Ethereum 2.0 launches on December 1, paving the way for a series of wide-ranging upgrades, including proof of stake and sharding. Find out how these will significantly improve the scalability of the network, and the Maker Protocol in the process.

Japanese Community Celebrates First Year of Yasashi DeFi

Yasashi ("Easy”) DeFi is a fun educational initiative for the Japanese DeFi community. Its first anniversary provides a great opportunity to reflect on its early growth and applaud the impact it continues to make.

Zero to One Billion Dai: Five Years of Growth for MakerDAO

Almost exactly a year after the launch of Multi-Collateral Dai, the Maker Protocol hit the amazing milestone of 1 billion Dai generated! This post includes a great infographic of the highlights from the five years since the concept for the Dai stablecoin was announced.

Busting MakerDAO Myths: Seven Misconceptions About Dai

Some people still hold misconceptions that perpetuate myths about MakerDAO and the Dai stablecoin, including the incorrect notion that Dai is algorithmic. This post busts that mistaken belief and others.

Worth Repeating

The Top Five Ways the Dai Stablecoin Is Used Around the World

Worldwide, people generate the Dai stablecoin or purchase it to use for everything from international remittance and inflation protection to e-commerce and gaining access to the newest DeFi products and services.

Introducing the Redesigned, Easier-to-Use Maker Voting Portal

The importance of voting to the Maker project can’t be overstated. Learn how the Maker Foundation’s Product team reconfigured the Voting Portal to make proposal polling and voting simpler. 

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

New Collateral Onboarding Handbook

The Maker community has prepared a (very) detailed Collateral Onboarding Handbook—a series of guides covering all aspects of the collateral onboarding process. The Handbook is a living document that will evolve to remain useful as the project moves towards full decentralization.

Miss This? Maker Governance Review: October 2020.

The Maker community now hosts weekly governance Q & A sessions. All are welcome to attend and learn more about how Maker governance works.

Governance Polls and Executive Votes in November 

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 

On November 6, Rune participated in Blockchain Summit LatAm 2020, a five-day online event attended by more than 3,000 people. In a fireside chat with journalist and writer Camila Russo, Rune discussed all the new developments in the Maker Protocol and ecosystem, including integrating real-world assets and the usefulness of Dai in inflation-hit Latin America.

Rune was one of over 100 major speakers from the blockchain and DeFi space.

On November 11, Rune gave a presentation titled “Bringing Real-World Assets to DeFi” during Korea Blockchain Week, the largest blockchain event in Korea for the past three years.

On November 12, Rune spoke at Futurist, one of the largest blockchain and emerging tech events in Canada. He participated in the keynote panel discussion, “The Future of Decentralized Finance,” alongside Compound Founder Robert Leshner, BlockFi CEO Zac Prince, and Brave Director Clayton Hartford.

Watch Rune’s panel:

Community Highlights 

ICYMI: The Redesigned MakerDAO Community Development Portal is Live 

The MakerDAO Community Development Team unveiled its updated portal early this month. Take a look to learn how to increase your knowledge of Maker, apply for a grant, join the team, and more.

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

Event Recaps

On November 3, several members of the Maker Foundation and others in the DeFi space joined a Chicago DeFi Alliance workshop to share best practices for launching DeFi products.

Maker Foundation teammates from different departments shared their insights.

Also on November 5, Jocelyn Chang, the Maker Foundation’s Community Lead in Southeast Asia, participated in a debate hosted by the Singapore University of Social Sciences and titled “Decentralised Finance or Decentralised Con?” Jocelyn joined Raymond Yeh from GovTech (Singapore’s government technology agency); Lisa Tan, Founder and Lead Economist for Economist Design; and Roberto Capodieci, Founder of Blockchain Zoo. 

Jocelyn and others discussed what might drive DeFi into the future.

On November 6, Mariano Di Pietrantonio, the Maker Foundation’s Community Lead in South America, attended the final day of Blockchain Summit LatAm 2020 to discuss what DeFi and Dai can offer the region in terms of savings tools.

Also on November 6, Maria Magenes, the Maker Foundation’s Community Lead for Europe and Africa, hosted the latest FriDAI Brunch event, “Stories from the Glass Ceiling.” Shefali Roy, an independent Maker Foundation Board Member, spoke about the importance of diversity in the blockchain space. Later, Spandana Suddapalli, Senior People Operations Manager at the Foundation, moderated a panel discussion focused on diversity. Griff Green, Founder of Giveth and Co-founder of The Commons Stack; the Maker Foundation’s Jennifer Senhaji; and Maggie Love, Founder of SheFi and Co-Founder of W3bCloud, participated.

Spandana moderated the panel discussion about diversity in the blockchain space.

On November 10, Maria participated in a panel discussion during Blockchain Forum Italia, the biggest virtual event about blockchain in Italy. She spoke about Security Token Offerings and DeFi with other DeFi professionals in the region.

The same day, Maria and Gustav Arentoft, the Maker Foundation’s Business Development Associate in Europe, participated in “Decentralised finance and the future of banking,” the first event in a series called DeFi Sessions, co-organized by the Maker Foundation and PwC Switzerland. Maria and Gustav discussed DeFi and introduced the Dai stablecoin to attendees.

On November 11, three Maker Foundation members explained Dai, NFTs, and the benefits of the Maker Protocol to an audience from the mainstream art world at the Vancouver Biennale Art and Technology Expo. Jennifer Senhaji, Nadia Alvarez, and Vamsi Alluri, Senior Integration Engineer for the Maker Foundation, took part in several panel discussions and demos hosted by Jessica Angel, a leading figure in the art and blockchain movement:

On November 12, Maker Foundation President and COO Steven Becker joined a roundtable organized by the International Association for Trusted Blockchain Applications (INATBA), of which the Foundation is an active member. Steven, along with Julien Le Goc from the Libra Association, Rafael Cosman from TrueUSD, and Manny Rincon-Cruz from Ampleforth, discussed the different types of stablecoins. The event was moderated by Jonas Gross of the Frankfurt Blockchain Center. 

INATBA’s roundtable event also involved speakers from the World Bank, IMF, BIS, and ECB.

Also on November 12, Gustav took part in a panel discussion hosted by the UCL Fintech Career Incubator to inspire students to explore a career in DeFi. 

On November 18, Maria and Sahabia Yakubu, founder of DeFi Africa and MakerDAO Ambassador, hosted another DeFi Africa Virtual Meetup. They discussed the role of blockchain technology in Africa’s future with Dee Duncan, CEO of BTCKing, and David Effiong, CEO of Blockchain Education Invasion.

Sahabia discusses the role DeFi will play in Africa.

Also on November 18, Kathleen Chu, the Maker Foundation’s Community Lead in Japan, hosted the latest meetup in the hugely successful Yasashi (Easy) DeFi series, which recently celebrated its first birthday. Kathleen welcomed Sam Bankman-Fried, CEO of @FTX_Official and Alameda Research, to speak about Seruma, a decentralized exchange built on the Solana blockchain. 

The same day, the Maker Foundation’s Head of Business Development Greg Diprisco introduced the Maker Protocol to VIPs at the Korea National Assembly during D.Fine 2020. Nathan Kim, the Foundation’s Community Lead in Korea, led Q&A session after Greg’s presentation.

Greg explained the opportunities the Maker Protocol and DeFi offer in his presentation.

Last but not least on a very busy November 18, Doo Wan Nam, the Maker Foundation’s Business Development Associate for APAC, participated in the Blockchain Jeju DeFi seminar at Jeju University. Doo showed the university students and members of the fintech industry how DeFi and its use cases could be implemented within existing financial infrastructures.

Doo delivers a lecture about DeFi and the Maker Protocol to students and fintech employees on Jeju island.

On November 19, Steven Becker attended the OECD’s 2020 Global Blockchain Policy Forum. In a discussion titled “Deep Dive: Decrypting decentralised finance (DeFi) in 2020,” Steven and other notable figures from the industry dove into the wide-ranging aspects of Defi, from the importance of stablecoins to composability and interoperability between protocols.

Steven discusses the many aspects of DeFi at the OECD’s Blockchain Policy Forum.

On November 23, the Maker Foundation’s Head of Engineering Wouter Kampman attended the first meeting of the Blockchain Governance Initiative Network (BGIN) and gave a talk titled “The Cathedral, the Bazaar, and the Central Park – Technical challenges in the DeFi ecosystem.”

Wouter extends the software development metaphor of Cathedral and Bazaar at the first BGIN stakeholder meeting.

On November 24, Charles St Louis, Maker’s Decentralized Governance Architect, was invited by Prof. Fabian Schar to discuss Decentralized Governance with PhD students at Basel University.

Charles showcased the new Maker Governance Portal.

Also on November 24, Gustav introduced Dai and the Maker Protocol to 70 participants from the largest companies in Japan at the virtual Nordic Japan Fintech initiative.

On November 27, Doo Wan Nam presented DeFi, Dai, and MakerDAO to more than 50 attendees from the banking and fintech industries at The Conference 2020 in Seoul.  

Upcoming Events

See the Maker Events page for a list of the many events we sponsor, participate in, or plan to attend. 

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!

Learn more about MakerDAO:





November 30, 2020