Maker Monthly Progress: MakerDAO Adds WBTC as Dai Collateral

MakerDAO

特邀专栏作者

2020-06-02 14:30 (UTC+8)

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The Maker community has achieved two meaningful milestones.

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The Maker community has achieved two meaningful milestones.

In May, the Maker community achieved two meaningful milestones: On May 3, Maker governance incorporated WBTC into Dai’s collateral assets, which means that Bitcoin holders can now convert BTC to wBTC, which in turn opens Maker treasury generation Dai. On May 12, Maker successfully shut down the single-collateral Sai system, marking a complete transition from single-collateral Sai to multi-collateral Dai.

Let’s first take a look at the latest data on multi-collateral Dai:

Total Dai: 125 million
The total amount of mortgaged ETH borrowed Dai: 110 million (89.34%)
Mortgage BAT to borrow Dai amount: 590,000 (0.47%)
Mortgage USDC to borrow Dai amount: 2.86 million (2.29%)
Mortgage WBTC to borrow Dai amount: 9.53 million (7.64%)
Mortgage ETH, BAT to borrow Dai Stable rate: 0%
Mortgage USDC to borrow Dai Stable rate: 0.75%
Dai Deposit Rate: 0%
Dai Deposit Rate: 0%
Total Dai in DSR: 11.52 million (9.22%)
Total Vaults: 9623

MakerDAO Adds WBTC as Dai Collateral

MakerDAO passed the executive vote,Added WBTC as collateral for Dai. WBTC (wrapped Bitcoin) is an Ethereum ERC20 token issued through multi-party custody and 1:1 anchored to BTC. WBTC is the fourth collateral included in the Maker protocol after ETH, BAT and USDC.

After Maker introduced wBTC as collateral, the amount of assets locked in BTC on Ethereum doubled. Currently, BTC deposited in Maker accounts for more than half of the total.

Dai Becomes Most Popular Cryptocurrency in Latin America

For people in Latin America, the US dollar is a local safe-haven currency against inflation, but it is not easy for ordinary people to obtain US dollars. As a digital currency built on Ethereum that maintains a 1:1 anchor with the U.S. dollar, the advantage of not requiring permission allows Dai to grow rapidly in Latin America. In Argentina, Dai trading volume has quadrupled from $5 million at the beginning of the year to $20 million in early May.

Dai emoji activity

governance update

In a series of governance polls and executive votes in May, MakerDAO added WBTC as Dai collateral. The stable fee rate for mortgage ETH and BAT to borrow Dai is set at 0%, the stable fee rate for mortgage USDC to borrow Dai is set to 0.75%, the stable fee rate for mortgage WBTC to borrow Dai is set to 1%, and the interest rate for Dai deposits is set to 0%.

Execution voting history:

May 29: Added USDC-B and TUSD as new collateral types (in progress)
May 25: Approved community member LongForWisdom as the second governance coordinator
May 22: Adjust the stability fee structure and increase the USDC stability fee rate
May 15th: Reduce WBTC Stability Rate
May 08: Increase USDC stable rate
May 01: Approval of the Maker Improvement Proposal (MIP)
product integration

product integration

MoonPay offers the convenience of buying Dai via debit card, credit card or bank wire.

The second layer solution RiveX official wallet RX Wallet supports Dai.

Unstoppable Domains supports Dai to purchase blockchain domain names with the .crypto suffix.

Telegram's instant encrypted wallet BlockChing integrates Dai, which can be transferred directly within Telegram.

Decentral Games supports the use of Dai to purchase Tominoya's NFT, and play games for betting.

community activity

In early May, Maker Foundation CEO Rune Christensen attended Ready Layer OneA roundtable discussion focused on the risks of DeFi, scalability, and the importance of community participation in DAO governance.

Charles St. Louis, Maker's decentralized governance architect, also presented at Ready Layer OneThe Maker Foundation's Governance is Fully Decentralizedwork, including Maker Improvement Proposals (MIPs) and plans to create sustainable self-running DAOs.

On May 7-8, Rune shared his thoughts on the future of DeFi and MakerDAO governance and how to achieve mass adoption of Dai with The Block at Ethereal Virtual Summit 2020.

https://v.qq.com/x/page/s09740eev77.html?ptag=qqbrowser

Mariano Conti, Head of Smart Contracts at Maker, published a thread titledSpeech, sharing his life in Argentina relying on Dai for all expenses.

https://v.qq.com/x/page/o0974bzsgxm.html?ptag=qqbrowser

During the Consensus conference from May 11-15, Rune joined Instadapp co-founder Samyak Jain to discuss the blockchain boom in India and encourage more people to participate in DeFi. Instadapp from the Indian team is one of the success stories of Maker community funded projects.

Also at the Consensus conference, Greg Diprisco, Maker's business director, introduced DeFi with practical cases, and demonstrated Oasis.app's borrowing Dai, trading Dai, and depositing Dai to generate interest.

review:

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Hosted by Gustav Arentoft, European Business at the Maker Foundation, at Disrupt Network during New York Blockchain Week, May 7-13The roundtable discussed how to tokenize real-world assets and use them to expand the boundaries of DeFi.

On May 7, invited by Sahabia, a core member of Maker's Ghanaian community, Maria Magenes, head of Maker's European community, introduced DeFi and its advantages to developing countries to members of DeFi Africa.