Making Maker: February 2020

February was pretty darn amazing for Maker and for the community as a whole. From hitting a huge decentralized finance (DeFi) milestone (hint: it starts with a “B” and ends with “illion”) and Maker’s debut in the Forbes Fintech 50 to the release of the new white paper and Dai integration in Coinbase Commerce, ….. More news below, including Governance updates, new integrations, and event highlights, but let’s first look at the numbers from as of Feb. 28, 2020, 10:00 am PT.

Total Dai: 119,532,281.89 

Dai from ETH: 111,984,528.58 (93.69%)

Dai from BAT: 1,743,682.75 (1.46%)

ETH Stability Fee: 8%

BAT Stability Fee: 8%

Dai Savings Rate : 8%

Dai in DSR: 66,658,892.04 (55.77%)

Vaults Opened: 6165 

A Huge Milestone Hit

On Feb. 6, DeFi Pulse tracked $1 billion in total value locked in DeFi. And that’s only the beginning!

Maker Joins Org on a Mission to Help Blockchain Networks Thrive in the United States

The DeFi movement has the potential to open doors to the millions of people who currently fall outside the traditional financial system. To help accelerate the pace of DeFi awareness, the Maker Foundation recently joined Blockchain Association, a group of industry leaders advocating to support blockchain innovation and collaboration. Foundation members look forward to working with those leaders to help more people understand the benefits and transformative power of DeFi.

Dai Integrated as a Payment Option on Coinbase Commerce 

Coinbase Commerce, a popular platform that helps merchants accept cryptocurrency payments in a completely decentralized way, has integrated Dai as a payment method. Merchants around the world can now accept Dai as a payment for goods and services in minutes.  

Maker Debuts in the Forbes Fintech 50 

The real world is catching on to what the Maker community already knows to be true: MakerDAO is one of the most innovative fintech companies in 2020.

New White Paper Describes the Multi-Collateral Dai System and the New Features of the Maker Protocol

As more people become comfortable with cryptocurrency and discover the benefits of Dai, the more important it is to communicate in simple language the benefits of the stablecoin and the advantages of all the new attributes of the Maker Protocol. Much more reader-friendly than the original white paper, the new version aims to clearly answer the questions people unfamiliar with crypto and the blockchain might have.

Catch Up On the Welcome to Crypto Blog Series

The six-part Welcome to Crypto series is now complete. If you missed any of the installments, catching up is easy. Click away!:

Part 1: The Benefits of Cryptocurrency and Blockchain Technology

Part 2: How Does Cryptocurrency Have Value, and Why Should I Care?

Part 3: The Different Types of Cryptocurrency Tokens Explained

Part 4: A Guide to Crypto Wallet Types 

Part 5: How to Buy Cryptocurrency: A Step-By-Step Tutorial

Part 6: How to Read Cryptocurrency Price Charts, and Why They Matter

Explore Apps and Services Using Dai

In case you missed it, a new Ecosystem page on was unveiled last month. The page contains links to all of the dapps designed by Maker, as well as links to the many Dai-integrated projects created by the Maker community.  

A peek at the new Ecosystem page on

Maker Protocol Technical Documentation

Everything—everything— you need to know about the upgraded Maker Protocol now exists in (highly technical) documentation. Get your geek on!

Developer Guides

MakerDAO’s Developer Guides help anyone integrate with Maker’s smart contracts, SDKs, APIs, products, and partners. Bookmark the guides and review them anytime.

Governance Updates

A series of Governance Polls and Executive Votes this month resulted in no change to the Stability Fees for ETH and BAT (both still at 8%), but brought the Dai Savings Rate up to 8%, as of February 28, 10:00 am PT.

Here’s the polling and voting history:

To stay current on governance, risk, and community issues, bookmark the MakerDAO Public Events Calendar. Newcomers to Maker might want to review our series of posts on the MakerDAO Governance Risk Framework.

The Latest Integrations

Say Hello to DAInerys Vaultborn: We’ve partnered with Kriptomat and Forgotten Artifacts to create a new collaborative gaming experience featuring DAInerys Vaultborn, our all-new NFT hero. Only 1000 DAInerys tokens will be minted, each one with a unique blockchain-certified identity. Don’t miss out!

Say hello to DAInarys Vaultborn, Burner of Volatility! Maker is super excited to partner with @kriptomat to bring a new NFT hero to your games.

Only 1000 will be minted so read more below to see how you can get yours!

cc @enjin, @ForgottenArtif, and @RealReewardio

— Maker (@MakerDAO) February 24, 2020

Dai has been added as a new cryptocurrency to the Sandbox marketplace. Sandbox will be a virtual world in which individual players and companies can create content and experiences for others. The collaboration will mean the creation of a new gaming land parcel — “Dai City”—  dedicated to the token and Maker. The city will also serve as a social hub for the Maker community.

F1DeltaTime, a blockchain-based game that centers around the collection and trading of unique cars, drivers, and more, now accepts Dai.  

Maker’s partnership with Pundi X to increase Dai adoption and financial inclusion in Latin American countries continues. On February 17, the Crypto Merchant program launched, allowing qualified merchants to receive a free XPOS® device to empower their businesses with digital currency transactions.

With PayTrie, our Canadian friends can earn the Dai Savings Rate through the Argent Wallet in under two minutes. 

Ownbit has improved cold wallet and multisig support for Dai. The Ownbit merchant API helps merchants accept Dai payments.  

GrowFI has integrated Dai into its first project, Growdrop, a new, no-loss funding model through which open-source projects can get seed funding and form a community of supporters. Dai not only provides the project with more options, but also helps to expand the Dai ecosystem.

Dai is now integrated on the platform. Users anywhere in the world can participate in market research surveys and more, and receive Dai as payment.

Worth Repeating

The Dai Savings Rate is now live in the Argent ethereum wallet. Argent’s UI makes it ridiculously simple to earn savings on your Dai.

Maker at ETHDenver (Feb 14-16)

The Maker team met a ton of people at ETHDenver 2020, including many Maker community members. Two Maker grantees, PoolTogether and Kickback, joined us at the booth to endorse the Maker Grant Program and turn visitors on to their projects.

Donations from Maker Swag Sales

We raised over $1000 Buffidai from swag sales during the three-day event. Buyers donated the full value of their purchases to one or all of four charities. Our partnership with Splunk allowed for a live data dashboard, which displayed the sales and fundraising efforts in real time at the booth.

The Splunk data dashboard displayed real-time stats at the Maker booth during ETHDenver.

 The final donations tally:

  • 135 unique donors
  • $1077.18 Buffidai donated
  • $309 to Giveth
  • $281 to Heifer International
  • $282 to Grace Refugee Aide
  • $203 to Castro Limon
The Maker Team kicking it at ETHDenver.

Also at ETHDenver, Maker’s Head of Smart Contracts, Mariano Conti, hit the stage and talked about Multi-Collateral Dai, its risks, and what Maker is doing to mitigate them. Watch the video (begin at 3:24:00):

Not unlike 2019, the ETHDenver project submissions for this year’s event came in hot and heavy. Check out all of the 2020 Project Submissions, courtesy of ETHDenver.

Other Community Highlights and Event Recaps

On February 4, Biz Dev reps Jocelyn Chang and Gustav Arentoft were in Singapore speaking to senior leaders of the Asian Development Bank, as well as industry partners and members of the fintech startup community. The conversation focused on Maker and the emerging technologies that are innovating corporate finance and the risk management field

Gustav Arentoft discussing all things Maker and DeFi inSingapore.

On Feb. 7, Nik Kunkel, Maker’s Head of Backend Services, attended Oxpo in San Francisco. Hosted by Ox, Oxpo brought together many of the major players in DeFi. Nik discussed the state of DeFi on a panel with Compound’s Robert Leshner and Kartik Talwar from A Capital. Matteo Leibowitz from The Block moderated.

Nik Kunkel (far right) on the DeFi panel at Oxpo.

On Feb. 20, Maker attended NFT NYC and left a present in the swag bags of attendees: A token that entitles them to 5 Dai off of their next OpenSea purchase. NFTs are promising to play important roles in the crypto economy.

Nik Kunkel was back at it on Feb 25, speaking at an intimate invite-only event hosted by Polychain and Cross Chain Group in San Francisco: Scaling DeFi: Where Interoperability Can Take Us. Nik and representatives from Dragonfly, Set Protocol, and Compound discussed the current state of DeFi and how it might evolve.

From left to right: Nik Kunkel (Maker), Tom Schmidt (Dragonfly Capital), Felix Feng (Set Protocol), and Calvin Liu (Compound).

Also on Feb. 25, Gustav found himself in London speaking to Tech London Advocates Blockchain about the rise of DeFi, stablecoins, and the associated technologies.

Tech London Advocates Blockchain guest panel: Mara Schmiedt of ConsenSys, Marta Piekarska from Hyperledger, Amber Ghaddar from AllianceBlock, and Maker’s Gustav Arentoft.

To stay current on Maker Community meetings, bookmark our Community Playlist on Youtube.

Upcoming Events

Mar 3-5: ETHCC 2020 — Paris, France

Mar 4-11: London Blockchain Week  — London, United Kingdom

Mar 9 & 10: Crypto Asset Conference — Frankfurt, Germany

Mar 10: CryptoCompare Digital Asset Summit — London, United Kingdom

Mar. 12-13: Blockchain Summit LATAM, Panama City, Panama

Mar. 18-19: World Blockchain Summit, Jakarta, Indonesia

May 8-9: Ethereal Summit New York 2020— New York, United States

June 16-18: Money 20/20 Europe 2020 — Amsterdam, Netherlands

To see more events we sponsor, participate in, or plan to attend, head to our Events page, and bookmark it!

Reminder: If you’re organizing a small event that incorporates Maker or Dai—whether it’s a meetup, panel, talk, or workshop— we want to support you! Learn more about our global meetups and micro-grants initiative

The Maker Foundation Is Hiring!

The Maker Foundation is looking for awesome people to join our growing, hard-working, and overall badass team. Check out our open roles and reach out if you’re interested!

Learn more about MakerDAO:





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