Maker Promises Multi-Collateral DAI In 2019

In a few months, you might be able to create DAI tokens using multiple forms of cryptocurrency, or even fiat currency, according to Maker representatives.

Jennifer Senhaji, Maker’s Business Development lead, says that the crypto-backed stablecoin project expects to release Multi-collateral Dai (MCD), which will be backed by other assets, before the end of the year. “Multi-collateral Dai will be coming this fall,” she told an audience at the London tech festival CogX.

Dai tokens are soft-pegged to the U.S. dollar, allowing users to leverage the value of their crypto holdings in the real world. Users lock their cryptocurrency into a smart contract as collateral, effectively “borrowing” a smaller amount of dollar-valued DAI tokens.

Maker has only accepted collateral in ether…

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