Making Maker: March 2019
It’s been an action-packed month for Maker! Stability Fee increases, a long-awaited update on Multi-Collateral Dai, a new campaign launch in Korea, and more.
Let’s begin with the latest statistics from maker.tools.
- 2,172,000+ ETH locked up
- Over 2% of the entire ETH supply is locked up in Maker smart contracts
- 88,696,965 total Dai supply
Stability Fee Increases through Governance Votes
A series of Governance votes this month resulted in an overall stability fee increase to 7.5%. Actors that drove the increase include exchange prices persisting below $1, high inventory levels among market makers and prop desks, and no attributable impact from earlier fee increases.
To stay current on Governance, Risk, and Community issues, bookmark the MakerDAO Public Events Calendar. Newcomers might want to dive into our series of posts on the MakerDao Governance Risk Framework.
Update on Multi-Collateral Dai
Our main focus in the past few months has been the development and release of the Multi-Collateral Dai (MCD) core contracts on the Kovan testnet as we work toward a full MCD mainnet release. We’ve also focused on contract interaction with our core products and tools. In our latest published update, The Road to Multi-Collateral Dai, we provide an overview of how to get started, including a breakdown of how to get Kovan-ETH and K-Collateral Tokens. As always, you can see the latest MCD contracts here.
MakerDAO in Korea
To drive awareness of Dai in Korea, and build on the tremendous support of the Korean community, the National Relayer Campaign will soon be launched. A dozen key players, including VCs, incubators, and exchanges have advocated for Dai usage and encouraged adoption through projects for funding and integrating Dai in their dapps.
Maker a Hit at EthCC 2019 Paris
Ethereum developers from around the world gathered at the EthCC 2019 conference in Paris in early March. Coinhouse, sponsor of the event, noted the following in its wrap-up: “The name of the conference was EthCC, but it could have been called MakerCC, as almost every project has taken an interest in using MakerDAO and especially the DAI stable coin. It is quite incredible how DAI is imposing itself as a standard for exchanging non-volatile value on top of the Ethereum network.” So proud of the Maker team!
Oasis Contract Upgrade
Read the postmortem on the Oasis contract upgrade that fixed a detected vulnerability.
Integrating with Maker
Here are some notable integrations this month:
- UMA and DDex launch USStocks, the first Dai-collateralized synthetic asset.
- Connext Network releases Dai Card, a browser-based wallet for low-cost, instant payments.
- Wyre and Bloqboard partner to enable secondary trading of CDPs.
- Coinduck, a popular Korean fiat-crypto application, integrated Dai into their stablecoin market, enabling its usage in 1000+ partner stores.
- Celsius users can now earn interest for holding Dai in their wallets.
- Button Wallet now allows users to send Dai within Telegram
- AirWallet introduced CDPs to the South Korean market.
- Metaps accepted Dai for a gift card sale, selling out within a few minutes.
- Zerion integrated CDPs into its system. Through its beta site, you can now get a loan in Dai backed with ETH.
- Ujo Music added support for streaming payments through Dai, allowing artists greater control over their work.
- Coinomi has integrated Dai into its wallet platform.
- Loom now allows its games marketplace users to pay in DaiAny dapps building on Loom can also integrate Dai payments.
- Helena Network launched as the first dapp on the xDai sidechain.
- On Travala, you can now book any of 550,000+ hotels in 210 countries with Dai.
- With just a few lines of code, you can add Dai purchasing seamlessly to any app or website through 0x Instant. For example, you can now instantly purchase Dai through a tweet.