• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
MakerDAO Dai announces new multi-collateral stablecoin

MakerDAO Launches Multi-Collateral Dai, Coinbase Support Coming Soon

Emilio Janus
by Emilio Janus
5 years ago
·
Posted in Altcoins, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The MakerDAO project launches its upgraded multi-collateral Dai stablecoin today. To the relief of many, it will not include traditional assets as accepted forms of collateral just yet. Cryptocurrency Exchange, Coinbase, has already announced support for the upgraded token from 2nd December.


Single-Collateral To Multi-Collateral Upgrade

Multi-Collateral Dai (MCD) will add several new features to the Maker protocol, according to a recent blog post. In addition to the expanded range of potential collateral asset types, it will also introduce the Dai Savings Rate (DSR). This will allow Dai holders to earn savings natively, and the initial rate will soon be decided by MKR holders.

Collateral, which has previously been limited to ETH tokens only, will now be open to other ERC20 tokens. There are currently seven tokens under consideration, and the initial tokens to be added will also be voted on by MKR holders.

Coinbase Will Automatically Upgrade Your Single-Collateral Dai

Coinbase announced its intention to support Multi-Collateral Dai in a blog post of its own. Any Dai held on the exchange will be upgraded from Single-Collateral Dai (now to be known as Sai) to Multi-Collateral Dai (now taking the Dai label) on December 2nd.

Sai held elsewhere can be moved to a Coinbase account before this date for automatic conversion. Coinbase also plans a further automatic conversion at some point in the future for those who miss the Dec 2nd deadline.

However, Sai can also be manually converted to Dai using a Migration app from MakerDAO, or via the Coinbase Wallet app.

Anyone who holds Sai on Coinbase, but for whatever reason doesn’t wish to migrate to the multi-collateral version, should move the tokens elsewhere before Dec 2nd.

No Current Plans For Traditional Assets And KYC

The original single-collateral Dai went live almost two years ago, with the intention of creating a cryptocurrency to support a stable, decentralised, digital global economy.

There were concerns back in September that the token’s multi-collateral future would incorporate traditional assets as collateral, and introduce KYC features, which many felt was defeating the purpose of decentralised finance.

It seems that the community’s objections to such plans have been heeded, at least for the moment.

What do you make of the new upgrade? Add your thoughts below!


Images via Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Emilio Janus

Emilio Janus

Follow

Full Profile

Related Posts

Nvidia

Nvidia впервые достигла капитализации $5 трлн на фоне роста спроса на ИИ

7 hours ago
Maxi Doge

Maxi Doge มาแรง! นักวิเคราะห์ชี้อาจแซง XRP และ Dogecoin

8 hours ago
Bitcoin Hyper

Докато Биткойн се търгува на $113K, Bitcoin Hyper събира над $25.2M, за да реши основните му проблеми

14 hours ago
Bitcoin

Bitcoin Beats The Euro — France Chooses Crypto Over CBDC

20 hours ago
PEPENODE เกมขุดเหรียญ 'Mine-to-Earn' ระดมทุนใกล้ $2 ล้าน!

PEPENODE เกมขุดเหรียญ ‘Mine-to-Earn’ ระดมทุนใกล้ $2 ล้าน!

1 day ago
Visa

Visa Opens The Floodgates — Stablecoin Payments To Span 4 Blockchains

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Is Staking Crypto Worth It? XRP Tundra Presale Offers 12% APY

    Is Staking Crypto Worth It? XRP Tundra Presale Offers 12%...

    13 hours ago
  • Crypto Predictions Favor Tundra as XRP Ecosystem Catalyst

    Crypto Predictions Favor Tundra as XRP Ecosystem Catalyst

    13 hours ago
  • Bitcoin Hyper

    Докато Биткойн се търгува на $113K...

    15 hours ago
  • weex-welcome-promo-800-usdt-tested-for-beginners-tw

    新手別錯過:測試了WEEX迎新活動 領到800...

    15 hours ago
  • Deleion Capital Launches Mobile App for Passive Crypto Earning for Diversified & Profitable Investments

    Deleion Capital Launches Mobile App for Passive Crypto...

    19 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.