Multi-Collateral Dai (MCD) has activated on the MakerDAO system after MKR token stakeholders made an executive vote last Friday to pass it through.
MCD, as its name states, will enable users to create Dai stablecoin coins backed by multiple collateral types. The initial collaterals for MCD will be ether and basic attention tokens. Along with the MCD transition will be the introduction of the Dai Savings Rate, which will reward Dai holders with a variable interest rate paid out in Dai.
With MCD's activation, there are now two Dai systems in Maker: Single Collateral Dai, which has been renamed Sai, and Multi-Collateral Dai, which has taken the Dai name. The Maker system and its users will ultimately completely migrate over to MCD. According to The Block's analyst Matteo Leibowitz, "An expected timeline for total migration remains unknown, although various Maker Foundation employees have suggested that migration within several months would be considered a success. "
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.