Maker DAO Votes In Multi-Collateral Lending

Maker DAO has already voted in the multi-collateral lending, expecting to launch the first contracts this November 18. The event will generate two types of DAI tokens, and the old (ETH) collateral DAI will coexist with the new lending scheme.

To avoid risks and instability, the Maker DAO Risk Team and the Maker Foundation have decided on a slow and conservative transfer between the two types of collateral.

After the switch, the new multi-collateral stablecoin will be traded as DAI, while the old asset will be rebranded to SAI, to represent the single collateral. There will be no chance to switch between the old and the new asset, to avoid a chaotic sell-off of…

This article appeared first on Cryptovest

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