In 2017, MakerDAO brought the insurgent new idea of Dai, a decentralized cryptocurrency with very little volatility to the table. Suddenly, people worldwide, including the banked and unbanked, were offered a convenient and stable store of value without a centralized entity as an intermediary. Today, Maker launches the Multi-Collateral Dai, a more robust platform to power a stronger but more flexible currency. Not long ago, the MCD was envisioned as a system that would help change the future of blockchain commerce. Today, that vision is a reality. The MCD is ready to deliver on its promise to enable businesses and individuals worldwide to realize the benefits of digital money, without typical constraints and inherent volatility.
A REVOLUTIONARY CRYPTOCURRENCY:
The MCD can improve people's lives, from those who are not banked and live in zones like Nigeria to the underbanked in the United States. The Maker Foundation, in partnership with the community, has delivered on its promise to guide the Maker Protocol and Dai into their next phase. The Maker Foundation is excited to see that the public, Dai owners, and the Maker Management society continue to build on the Maker Protocol and enhance and expand Dai's potential. The current network tokens (SAI) are not compatible with the new version of the Protocol. That is why the entire community must migrate to Multi Collateral DAI (MCD for its acronym in English). The migration is included in the DAI whitepaper. It was thought out and had been working on it for a long time. On the day of the MCD launch, anyone can instantly upgrade their Sai to Dai easily via the migration app.
THE FUTURE OF DIGITAL MONEY:
The Multi-Collateral Dai represents the future of digital money, realizing the Foundation and Maker Community's goal of more active governance. Consequently, the Governance Maker will focus on proposals related to the MCD and weekly voting, reducing its focus on the SCD. Therefore, anyone looking to benefit from all the MCD developments should upgrade to Dai as soon as possible. The Dai Interest Rate (DSR), a long-awaited feature of the MCD, will allow Dai owners to earn interest natively, further differentiating Dai from other cryptocurrencies.