Multi-Collateral Dai Launches and Introduces the Dai Savings Rate

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MakerDAO, the protocol behind Dai, the world's first decentralized stablecoin built on the Ethereum blockchain and the leading stablecoin of decentralized finance, today enabled Multi-Collateral Dai (MCD). In a vote held November 15, MKR holders approved the addition of the Basic Attention Token (BAT), opening the door to countless additional collateral types in the future. The introduction of MCD also allows for today's launch of the Dai Savings Rate (DSR), a feature that makes it possible to earn savings simply by holding Dai. Users can learn how to generate Dai and how to access the DSR by visiting 

From Sai to Dai

The introduction of MCD also marks a change in terminology. Beginning today, existing Single-Collateral Dai will be referred to as "Sai," while Multi-Collateral Dai will be called "Dai." Users can now upgrade their Sai to Dai easily through the Migration Portal (more on migration below). Upgrading provides users with all the benefits of MCD, including more collateral options and the Dai Savings Rate.

Multi-Collateral Dai represents the future of digital cash, with the new DSR feature and the activation of a smart contract that paves the way for new collateral assets to back Dai. Accordingly, in the months ahead, Maker Governance will concentrate on adding new assets to MCD through debates and weekly votes. Therefore, anyone looking to take advantage of MCD's many features should upgrade to Dai as soon as possible.

"The arrival of Multi-Collateral Dai is another step toward the vision of creating a decentralized platform to help level the economic playing field for people around the world," said Rune Christensen, CEO of the Maker Foundation. "The technological advancements set the stage for even more innovation from the DeFi community in the form of integrations, partnerships, products, and services that may not have been possible without the availability of DSR or the ability to gain leverage from multiple types of collateral, including real-world assets."

Christensen continues, "The reason Dai is spurring real change perhaps faster than more high profile stablecoins is due to focused team effort. I'd like to personally thank the active and passionate Maker community members, volunteer developers, Dai users, CDP holders, integration partners, and employees and consultants for the Maker Foundation for their brilliant work and tireless commitment."  

The DSR Separates Dai from Other Stablecoins

In addition to continuing to provide Dai holders with a stable decentralized currency, MCD offers the Dai Savings Rate, an option to earn savings simply by holding Dai in a special smart contract, further differentiating Dai from other stablecoins.
Effective immediately, with just a few simple steps, Dai holders can deposit Dai into the Dai Savings Rate contract to earn additional Dai. While the user's Dai is in the Savings Rate contract, the Maker Protocol automatically allocates Dai equal to the variable Savings Rate, currently 2% as determined by a Maker Governance vote on November 15.

The Dai holder can, at any time, withdraw his/her Dai from the Savings Rate contract, along with the savings earned up to that point. The Dai holder always maintains custody and total and independent control over the Dai in the Savings Rate contract. For developers, the DSR brings an entirely new dimension for innovative Maker Protocol integration on the backend of any product that uses Dai.

Migrate to Take Full Advantage of Dai

In order to support MCD functionality and its features, such as the DSR and new collateral types, the core Maker Protocol smart contracts were rewritten. Therefore, users and partners interacting with Sai must upgrade their existing Sai tokens to Multi-Collateral Dai tokens (Dai) and Vaults (formerly CDPs) to the new system. Additionally, companies or projects integrated with Sai and Vaults must update their codebases to point to the new smart contracts and support the updated functions.
To assist with this process, the Maker Foundation has published a Migration Guide.  

Users should upgrade immediately because at some point in the future, Maker Governance will likely vote to trigger a shutdown of Sai.

The Backbone of DeFi

Dai has quickly become the market leader of decentralized finance, accounting for over 50% of the money locked in DeFi. Other proof points on the growth of the Maker ecosystem and the growth of Dai include:

  • There is currently over $100 million Dai in circulation. 
  • Steady growth of addresses holding Dai is compounding by 27% per month on average. 
  • There are more than 400 active integration partners, ranging from global payments and remittance systems to esports and gaming.

About MakerDAO

MakerDAO is a decentralized organization dedicated to bringing stability to the crypto economy. It powered the creation of software supporting Dai, the world's first decentralized stablecoin on the Ethereum blockchain. Dai eliminates volatility through an autonomous system of smart contracts, designed to respond to market dynamics. Launched in 2017, Dai has successfully maintained a soft peg to the US dollar. With a presence on numerous cryptocurrency exchanges and active integrations with more than 350 projects, MakerDAO is unlocking the power of the blockchain and DeFi to deliver on the promise of economic empowerment today. Visit


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