On the 19th of November, MakerDAO launched their new highly-anticipated, multi-collateral Dai (MCD). The next-gen version of the Dai stablecoin you’re already familiar with, its value is pegged to multiple assets which provides an even greater degree of stability for remittance and hedging.
Before we get into any of the finer details, let’s check out the changes in terminology:
- Collateralized debt positions = Vaults
- Multi-collateral Dai token = Dai
- Single-collateral Dai token = Sai
Confused? We don’t blame you. Essentially, single-collateral DAI – the ‘old’ version of the stablecoin - is now known as Sai, while the updated, multi-collateral token inherits the Dai moniker.
What does this mean?
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