Multi-collateral Dai (MCD) Making Good on Promise Oasis Borrow and Oasis Save IntroducedNovember 22, 2019
Multi-collateral Dai was recently launched. Investors can now upgrade their Sai to Dai easily using the MakerDAO’s Migration Portal and can eventually take advantage of everything that MCD has to offer.
Rune Christensen, Maker Foundation CEO, stated, “I’ve been imagining this moment for five years,” he further stated, “It’s incredible. MCD can improve the lives of so many people, from the unbanked individuals living in regions like Nigeria to the underbanked in the United States.”
The launch of MCD calls for careful scaling because Maker Governance is becoming increasingly very complicated. The major hurdle in the progression of the MCD will be related to governance. The MKR holders should become increasingly comfortable about governing the basic MCD system.
The recent upgrade has happened due to the several hours of hard work, stewardship, and commitment from the Maker Community. Rune Christensen acknowledged that “MCD literally could not have happened without the support and input of so many community members,” He further thanked, stating, “Thank you, all.”
The Maker Foundation, have been promising to take the Maker Protocol and Dai to the next phase, and this promise is now fulfilled. The governance community of the Maker is continuing to build on the Maker Protocol to eventually expand and enhance the potential of Dai.
With Dai going live, the governance team is happy as the currency is re-defined for the world. Oasis Borrow and Oasis Save were also introduced. Oasis Borrow is the portal that the users will access to secure their collateral assets in vaults to generate Dai. Every collateral asset which is deposited will now have its vault. Users will be able to open multiple vaults from the Oasis Borrow Dashboard, and they will be able to manage them easily and quickly. For single collateral holders (Sai) holders, the CDP portal will not provide Multi-Collateral Dai. MCD (Multi-Collateral Dai) is only generated through vaults.
Using the Oasis Save Interface, users can access the Dai Savings Rate. This they can do to earn some savings on locked Dai. Oasis Save does not allow lending of Dai like in other platforms. However, users will be able to lock their Dai in a smart contract, “turn on” DSR mode and accumulate more of Dai at the Dai Savings Rate. Locked Dai is under the total and independent control of the user. The Dai Savings rate continues to be a Game changer in the DeFi Ecosystem.
When the Maker Currency was first launched, it was envisioned to shape the future of the commerce on the blockchain technology. Now, this vision has become a reality. MCD is making good on its promise now.