After years of partnering and planning, coding and community building, scientific governing and ecosystem onboarding, the Maker Foundation can confidently share that it is prepared to initiate the late-stage tasks required to launch Multi-Collateral Dai (MCD) on Mainnet.
Of course, because Maker is a decentralized organization, the ultimate decision to activate Multi-Collateral Dai will be made by MKR voters. But a key role of the Foundation is to facilitate the conversations related to crucial aspects of the Maker Protocol.
To that end, what follows is an overview of critical milestones that must be achieved before MCD goes live.
Over the past few months, the Maker Foundation has regularly updated core MCD contracts on the Kovan testnet, where the community has engaged with and tested the core elements of the MCD system. You can review those updates here:
All along the way, community feedback has been constructive and has helped the Maker Foundation further develop and test the system. With the contracts in place, the next milestones for delivering the system can be targeted:
Smart contract audits by industry experts help to ensure that the code is secure.
Documentation of functions provides an understanding of various system operations.
Governance, Risk, and the Community—Achieving Consensus
Decentralized governance and community engagement are both core to the success of the Maker Protocol. Over the past year, the community has demonstrated deep passion and enthusiastic participation in weekly governance calls, the governance subreddit, and in daily discussions in our rocket.chat.
As MCD moves closer to launch, the community’s high level of engagement will be paramount in achieving the following critical governance milestones:
An easy-to-understand and approachable user experience is critical to the success of MakerDAO and Dai. Maker Foundation design teams are making a number of improvements to simplify use and increase adoption of the Maker ecosystem. Once completed, each milestone below will represent significant progress toward Multi-Collateral Dai on Mainnet:
As we get closer to achieving each goal, the Maker Foundation will provide in-depth updates and clear calls-to-action.
Additionally, in the coming weeks, the Maker Foundation will track the progress of these milestones on a dedicated landing page on our website.
The road to Multi-Collateral Dai has been long, but the destination is in sight. Continued community engagement and debate will be essential to launch MCD and take another giant step toward the shared goal of bringing financial stability and transparency to the world economy.