In December 2017, the white paper introducing the original decentralized Dai Stablecoin System was published. Today, a little over two years later, the Maker Foundation announces the publication of a fresh white paper that provides an overview of the updated Maker Protocol and its new features.
The release of Multi-Collateral Dai (MCD) in November was the culmination of years of hard work and marked a huge milestone for MakerDAO. A more robust platform to power a stronger yet more flexible Dai, MCD is helping to shape the future of commerce on the blockchain, allowing organizations and individuals around the globe to realize the advantages of a stable digital currency without experiencing volatility or the restrictions of traditional financial services.
As more people become comfortable with cryptocurrency and discover the benefits of Dai, the more important it is to communicate in simple language the benefits of the stablecoin and the advantages of all the new attributes of the Maker Protocol. New features, including the Dai Savings Rate (DSR) and Oasis.app, a hub for decentralized finance, are game-changing improvements that help level the economic playing field for those wanting more financial freedom than conventional financial services provide. Today, it’s more important than ever for people all over the globe to fully understand what Dai and the Protocol can offer. For that reason, the new white paper was written with newcomers top of mind. Much more reader-friendly than the original white paper, the new version aims to more clearly answer the questions people unfamiliar with crypto and the blockchain might have.
Needless to say, Maker has not abandoned the many tech-savvy Dai enthusiasts, blockchain developers, and long-time users of the protocol. In fact, there are better materials available now covering the Protocol's technical intricacies. Those readers should head directly to Introduction to the Maker Protocol in the Maker Documentation Portal for an in-depth explanation of the entire system. As more developers and blockchain entrepreneurs discover how easy it is to integrate Dai or the DSR into their own projects, the Maker ecosystem of apps and services using Dai will grow.