RATE Group | Maker’s Stability Fee Drops to 5.5% After Multi-Collateral Dai Announcement
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Maker’s Stability Fee Drops to 5.5% After Multi-Collateral Dai Announcement

03 Nov Maker’s Stability Fee Drops to 5.5% After Multi-Collateral Dai Announcement

Posted at 19:36h in Bitcoin News by

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Maker's Stability Fee Drops to 5.5% After Multi-Collateral Dai Announcement

According to the CEO of the Maker Foundation, Rune Christensen, Multi-Collateral Dai (MCD) will launch on November 18. On October 28, Maker’s stability fee was reduced by a ‘whale’ with roughly 94% of the voting power.

Also Read: French Ministry of Education Publishes Bitcoin Resource Guide for Educators

Maker’s Multi-Collateral Dai Will Launch November 18

Decentralized finance project Makerdao is responsible for creating the cryptocurrency-backed stablecoin called dai. Initially, the project used ETH as a form of collateral in order to issue dai but the project revealed that in the future a variety of other digital assets could be used. Announced at the Devcon 5 conference in Osaka, MCD will bring new features like the dai savings rate(DSR) and a collateralized debt position (CDP) will be known as a “vault.” Collateral types first evaluated include coins like augur (REP), digixdao (DGD), golem (GNT), omisego (OMG), ether (ETH), and 0x (ZRX). This…

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