Maker Price Surges 10 Percent as MakerDAO Sets Date for Multi-Collateral Dai Release

Libra Coin News
Wed, 10/09/2019 - 13:52
Yuri Molchan
MKR price soars nearly 10 percent so far, as the MakerDAO founder announces the date when multi-collateral Dai is planned for launch
Cover image via U.Today

Positive news comes from the second day of Devcon 5 that began on October 8 and will last until October 11. The founder of MakerDAO, Rune Christensen, has announced the date of the multi-collateral Dai stablecoin launch.

The Dai dev team have been planning to diversify the collateral which backs the Dai stablecoin since 2015, when the asset was created.

Back in July this year, the Maker team asked MRK owners to vote and choose coins they would like Dai to be backed by and added as collateral. Now, the issue seems to be solved and the new multi-collateral Dai will be released on November 15.

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Multi-collateral is expected to add more liquidity to Dai and it is believed to make the coin more stable.

Rune Christensen also announced that on the same day, the MakerDAO will kick off the Dai Savings Rate and it will be part of the ‘upgraded’ stablecoin.

Following the news, the price of Maker (MKR) stablecoin has surged by around 10 percent.

Image by Coinmarketcap

 

What is your view of the upcoming multi-collateral Dai launch? Feel free to share it with us in the comment section!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.