MakerDAO added stablecoins USDT and PAX as collateral for Dai through an executive vote.

USDT is a US dollar stable currency launched by Tether. Users can exchange USDT by wire transfer of US dollars to the bank account provided by Tether.

PAX (Paxos Standard) is a compliant USD stablecoin issued by Paxos, which maintains 100% USD reserves. PAX is regulated by the US government, and account funds are audited monthly.

Executing voting records

Executing voting records

https://vote.makerdao.com/

At the same time, the executive vote also raised the debt limit for borrowing Dai by collateralizing WBTC from US$80 million to US$120 million; increased the basic stable interest rate from -6% to -2%; and added Argent and MyCrypto wallets as Maker oracles to publicly feed prices square.

Debt ceiling: 10 million Dai

• Debt ceiling: 10 million Dai

• Interest on borrowing Dai: 6%

• Liquidation mortgage rate: 150%

• Initial generation of Dai minimum amount: 100 Dai

• Liquidation Penalty: 13%

• Minimum bid increase for collateral auctions: 3%

• Auction duration for each batch of collateral: 6 hours

• Collateral auction maximum duration: 6 hours

• Liquidation Penalty: 13%

Learn about USDT 👉 tether.to

Debt ceiling: 5 million Dai

• Debt ceiling: 5 million Dai

• Interest on borrowing Dai: 2%

• Liquidation mortgage rate: 120%

• Initial generation of Dai minimum amount: 100 Dai

• Liquidation Penalty: 13%

• Minimum bid increase for collateral auctions: 3%

• Auction duration for each batch of collateral: 6 hours

• Collateral auction maximum duration: 6 hours

• Liquidation Penalty: 13%

Learn about PAX 👉 paxos.com

The Maker protocol is highly flexible, and almost any tokenizable asset can be used as a candidate collateral, as long as it has the appropriate risk parameters and is approved by Maker's decentralized governance.