Tezos (XTZ) Keeps Pumping 13%, Sits Firm in Top Ten – Crypto Experts Respond

17m
utoday

ING Bank Looks to Offer Clients Cryptocurrency Storage Compliance

17m
cryptoglobe

Penta Security to provide MPC key management with Corda blockchain

23m
cryptonewmedia

Russia: Darknet Marketplace Plans $146M ICO for Global Expansion

35m
cointelegraph

Russia: Darknet Marketplace Plans $149M ICO for Global Expansion

1h
cointelegraph

Cryptopia liquidation process recovers $7.2 million

1h
bitcoinwarrior

‘We Better Be Ahead of Curve’ on Stablecoins

1h
cryptonewmedia

Justin Sun Celebrates 916M Tether (USDT) on TRON

1h
beincrypto

Beowulf Blockchain and Pacific Link Foundation to Help Human…

1h
cryptonewmedia

Tezos Taps Crypto Top Ten as Fundamentals Improve

2h
cryptonewmedia

Cryptocurrency Could Be Next as US Lawmakers Pressure Encrypted Messenger Apps

2h
beincrypto

Has South Korea Joined the Central Bank Crypto Race?

2h
cryptonewmedia

ETF vs Mutual Funds: Which investment vehicle is better?

2h
bitcoinwarrior

Bitcoin Cash Analysis: BCH Could Resume Its Decline

2h
livebitcoinnews

XRP Cryptocurrency Mentioned in US Independent Agency CFPB

2h
cryptonewmedia

Bitcoin ‘Running Out Of New Buyers’ – Peter Schiff Asserts

2h
zycrypto

Uphold and Salt Partner to Bring Liquidity to Millions Using Crypto-Backed Loans

3h
cointelegraph

Bitcoin (BTC) Flirts With Key Resistance, Bears In Control

3h
cryptonewmedia

New Ethereum Addresses Could Be Inflating Its Price. Here’s Why

3h
zycrypto

Mark Cuban Says He's 'Not Opposed' to Bitcoin, but It Has Serious Problem

3h
utoday

119 Addresses Control 64% of Tether’s Circulating Supply

3h
beincrypto

IBMR launching Algorand based microfinance platform for Southeast Asia

3h
cryptonewmedia

SOMESING, a blockchain-based mobile Karaoke DApp, is to be listed on Coinone Indonesia exchange on the 16th Dec 2019 » The Merkle Hash

4h
cryptonewmedia

Crypto Payment Gateway Offers Low Withdrawal Fees

4h
cointelegraph

Ripple's XRP Gets Mentioned in US Government Document for the First Time

4h
utoday


Multi Collateral DAI Launches Today, Here’s what you need to Know

The much-awaited integration of Multi Collateral DAI (MCD) is finally upon us. As the clock counts down, projects across Ethereum’s DeFi stack are gearing up to support their favorite stablecoin. Amongst the known integrators are Compound, dYdX, Request Network, and almost every major exchange (Coinbase and Bitfinex) that lists DAI, November 18, 2019.

The most important changes are from a branding perspective. For example, what we call used to call DAI will now be SAI. The ticker ‘DAI’ will be used for the new version being rolled out later today.

For a basic primer, SAI is backed by only ETH collateral, whole DAI will be backed by a variety of assets, initially starting with just ETH and Basic Attention Token (BAT).

The plan is to Migrate SAI into DAI using Maker’s native migration portal and there are certain hindrances to this process. It cannot go too slow or too fast; the robustness of migration hinges on keeping the speed of migration at an optimal level.

Exchanges support for this move plus broad community support indicates that this is by no means contentious. There is obviously a minority of “ETH purists” who believe nothing else should be used as collateral, but the drawbacks of such a system are plentiful over the long term.

In short, Multi Collateral DAI is receiving a warm welcome from small DeFi projects and multi-billion dollar exchanges.

As with any changes to existing infrastructure, Multi Collateral DAI also has its fair share of confusion. In the short term, it will be difficult to explain to newcomers who just learned what DAI is and how Maker Protocol functions, that everything they know has been flipped upside down.

But this is a situation of confusion that is worth bearing given the long term effect MCD will have. Integrating ERC-20 tokens is just the beginning. The goal is to have a variety of crypto assets and real-world assets used on an overcollateralized, liquid, and tokenized system.

The bigger picture of MCD lies within the tokenization of real-world assets and using those tokens to obtain stable and liquid funding for short term needs.

As Rune Christensen founder of Maker said, Maker is looking to challenge the traditional financial market rather than continue to operate as niche financial protocol.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments