Protocol · November 18, 2019
MakerDAO launches Multi-Collateral Dai and the Dai Savings Rate
Price at event
$8,190
Today
$73,594
Since then
×9.0
On November 18, 2019, MakerDAO upgraded its stablecoin from single-collateral Dai (rebranded "Sai") to Multi-Collateral Dai, allowing it to be backed by multiple Ethereum assets starting with ETH and BAT. The same upgrade introduced the Dai Savings Rate, a smart contract that pays holders a governance-set yield (initially 2%) for the radical act of leaving their stablecoins sitting still. It remains one of DeFi's foundational protocol milestones, turning a one-asset experiment into a multi-collateral monetary system.
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