The MakerDAO community recently voted to add Chainlink, Compound, and Loopring as collateral assets within the platform.
the trio Chainlink (LINK), compound (COMP) y Loopring (LRC) they joined MarkerDAO as new types of collateral assets after a vote from the community in favor of this integration. MakerDAO is a decentralized finance protocol (DeFi) that works on the blockchain de EthereumThe announcement, posted via MakerDAO’s official Twitter account, revealed that the trio of tokens are now available to be used as collateral in Maker Vaults.
Tokens can be used to open virtual vaults within the Ethereum blockchain and generate DAI, the stablecoin of this DeFi protocol. With this integration, MakerDAO now has a total of 11 types of collateral assets available on its list, including Decentraland (MANA), Wrapped Bitcoin (WBTC), 0x (ZRX), Kyber Network (KNC), TrueUSD (TUSD), Paxos Standard (PAX), USD Coin (USDC) and Tether (USDT). All of these tokens back DAI.
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Multiple DAI collaterals
When MakerDAO launched in 2015, the project only allowed the use of ETH tokens, Ethereum’s native cryptocurrency, as collateral within the system. But in late 2019, the developers of the DeFi protocol decided to expand these possibilities by adding a new version to the protocol, one that allows borrowing using multiple DAI collateral.
Voting to add the new collateral tokens is done through Maker (MKR), the project's governance token. Through this digital token,, the MakerDAO community can vote for the approval of new integrations to the DeFi protocol, in addition to having participation in other important decisions regarding the development and management of the platform. Likewise, before submitting an asset as collateral or guarantee, it is evaluated by the MakerDAO Foundation risk management team, which is responsible for preparing a risk report that will be used as a scientific basis for decision-making by the project's Governance.
ETH and USDC, MakerDAO's most popular collaterals
Ether (ETH) is the most popular and widely used collateral token on MakerDAO, followed by USD Coin (USDC), which has over 372 million tokens locked within the protocol. This amount of tokens is equivalent to around $372 million, based on the token’s value of $1 USD per unit, at press time.
MakerDAO is close to reaching the $2 billion mark in total value locked (TVL) within its protocol. However, as reported by this medium, Uniswap has already reached and surpassed this mark, becoming the first DeFi protocol to achieve this and marking a milestone in the history of decentralized finance platforms.
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