OKEx Becomes the First Major Platform to Integrate Maker’s Dai Savings Rate

December 17, 2019

OKEx brings DSR to its millions of users in Asia

With the introduction of the Dai Savings Rate (DSR) on the Maker Protocol, holders of Dai are now able to put the stablecoin to work for them, earning savings in just a few clicks. In the three weeks since its launch, users around the world have locked over 16 million Dai in the DSR contract. Today, the China-based OKEx marketplace has announced an exciting new way for its millions of users to take advantage of the DSR. On December 23, users of the OKEx platform will be able to directly deposit Dai and stake it in the DSR to earn the savings rate plus an additional reward that is exclusive to OKEx—all without leaving the OKEx platform.

The Benefits of the Dai Savings Rate

The DSR offers individuals, start-ups, and businesses a myriad of uses and benefits: 

  • By securing their Dai, users earn an attractive return determined by Maker Governance (currently 4%).
  • There are no fees and no minimum or maximum deposit required to get started.
  • Deposit or withdraw anytime; it’s as easy as toggling a switch “on” or “off.”
  • The DSR is available to any Dai holder, anywhere in the world.

The DSR is a game-changer for users and a powerful new tool for the entire DeFi ecosystem

How It works on the OKEx Platform

One of OKEx’s most unique and popular features is called Pool, a mining pool with a staking service that encourages long-term asset holding and offers users rewards. With Pool’s integration of Dai, OKEx account holders can deposit Dai where they’re able to stake it into the DSR.

Once staked, users earn the Dai Savings Rate, plus a reward, courtesy of OKEx. 

The process is simple:

1) Open the OKEx app.

2) Select the “Pool” tab.

3) Go to “Staking” and select “Dai.”

4) Enter the amount of Dai you want to stake.

5) Enjoy! 

For more information and support, refer to the OKEx Pool Staking Guide.

Dai in Asia

With the OKEx integration, adoption of the Dai Savings Rate can accelerate in Asia, introducing millions more people to Dai.  While Maker already has a presence in Asia, including Foundation members in China, Korea, Japan, and Singapore, the OKEx integration will help expand Maker recognition and accelerate the globalization of Dai. 

As more users benefit from the Dai stablecoin and discover the advantages of the DSR, more exchanges, platforms, and projects will integrate both, introducing new groups of users to the Maker Protocol and the DeFi ecosystem. 

Please join us in our mission to shape the future of commerce on the blockchain. To learn more about MakerDAO and to become part of the community, join the conversation on the Maker Forum.

December 17, 2019