Maker Foundation’s Multi-Collateral Dai to Launch on Nov. 18
Marie Huillet's original article for cointelegraph.com reduced by 74%
Rune Christensen, the CEO of the Maker Foundation, has revealed that the Multi-Collateral Dai system will be ready to launch on Nov. 18. Speaking at DevCon 5 in Osaka, Japan, Christensen urged all holders of MakerDAO's MKR token to cast their votes on November 15.Dai Savings Rate, new CDPs.
MCD is a decentralized blockchain-based system designed to encompass Maker smart contracts, front-end apps, tools and services. MakerDao's announcement points out two core features of the Maker protocol that will be heralded by its planned November launch: first, the Dai Savings Rate - an MCD feature that allows DAI stablecoin holders to lock their tokens in a smart contract to earn additional ones - as in a savings account. Second, the release will provide new collateral types for Collateralized Debt Positions - another smart contract integral to the Dai stablecoin system.
MakerDAO claims that the launch of the MCD represents a major milestone, paving the way for the Maker protocol integration on the backend of Decentralized Finance applications. HackerOne user found critical MCD bug ahead of release. The bug could have reportedly allowed an attacker to steal all of the collateral stored in the MCD system - possibly via a single transaction.
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