0
📰 News
203 views

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

  • Yuri Molchan
    📰 News

    MKR price soars nearly 10 percent so far, as the MakerDAO founder announces the date when multi-collateral Dai is planned for launch

Maker Price Surges 10 Percent as MakerDAO Sets Date for Multi-Collateral Dai Release
Cover image via news.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.

👉MUST READ

If Bitcoin Price Dips Under $8,000, I’m Buying, Says Titan Ventures Co-Founder

If Bitcoin Price Dips Under $8,000, I’m Buying, Says Titan Ventures Co-Founder

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.

MKR price
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!

Subscribe to the official News.U.Today Telegram channel. Get news first!

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.

Recommended articles
0
📰 News
122 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings