Monolith & Maker’s transition to Multi-collateral Dai

This post is a quick update regarding the update of Dai, the stablecoin available on your Monolith wallet and card.

Multi-Collateral Dai

On November 18, Maker released the next version of DAI, which can now be collateralized by several assets. BAT is now the first new asset to back DAI along ETH.

Along with the change comes a migration. The former DAI is now known as SAI (Single Collateral Dai), and the new multi collateralized stablecoin now bears the ticker DAI.

If you want to migrate your SAI to DAI, you can easily do so through Maker’s portal.

Monolith, SAI & DAI

With the last version of our app, v 2.37, you can store both SAI and DAI in your Monolith wallet. You can also use them to top-up your card.

DAI has a new feature, the Dai Savings Rate, which allows users to earn interest for locking their DAI. It will be supported and available through your Monolith wallet soon.

That’s it for this quick update — but stay tuned, there is more goodness coming to the Monolith wallet before 2020!

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