MakerDAO Announces Multi-Collateral Dai Will Launch November 18

The founder of MakerDAO, Rune Christensen, has revealed multi-collateral Dai is launching next month, on November 18.

The developers behind the project have been planning to expand the Dai stablecoin beyond the Ethereum blockchain since the project was first launched in 2015. Maker’s MKR token holders already suspected the move was coming as they were asked to vote on tokens to add as collateral earlier this year.

Christensen’s announcement came at the DevCon 5 conference in Osaka, Japan, where he further revealed new features are set to come to decentralized finance ecosystem thanks to multi-.collateral Dai (MCD). These include the Dai Savings Rate (DSR), which will allow users to earn interest on their Dai holdings.

The announcement reads:

The launch of MCD will mark a huge milestone reached for the MakerDAO project—a turning point that will have a strong impact on the future of Decentralized Finance. The DSR will not only allow users to earn on Dai held, but will also immediately create an entirely new dimension for innovative Maker protocol integration on the backend of DeFi dapps.

MKR token holders will reportedly be able to soon review and vote on the DSR’s terms. This announcement is seen as bullish by some community members and MCD will mean increased liquidity for Dai and the decentralized finance ecosystem.

Featured image via Pixabay.