Multi-Collateral DAI added to Compound
Multi-Collateral DAI has been added to the Compound protocol through the creation of a new cToken contract, cDAI — you can now supply and borrow the latest version of DAI. At launch, cDAI functions exactly like other cTokens — in the coming weeks, cDAI will be upgraded to implement the DAI Savings Rate and interest rates set through the MKR voting process. Following that upgrade, cDAI will be enabled as collateral to borrow other assets.
A number of companies have recently updated their apps to work with Compound’s cDAI including Eidoo, Stablepay and DeFi Portfolio Tracker.
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View the cDAI token code, current implementation code, and full release (v2.3) source code and brand assets
InstaDApp cSAI to cDAI Migration Tool
InstaDApp launches a cSAI to cDAI migration tool. cSAI holders & SAI borrowers can use the Multi-Collateral DAI migration tool to seamlessly move to a new DAI position with just one click in an easy to use interface.
Lumina Integration
Lumina is an operating system for digital assets and has announced Compound support. Lumina allows users to navigate the fragmented digital assets landscape with a comprehensive crypto-native financial platform. It provides traditional accounting reports needed for audits, compliance, and tax filings.
Thoughts
Markets
Total supply is currently at ~$124 million from 13,000+ suppliers, and total borrowing is at ~$28 million from 1,200+ borrowers.
Mid-last week, we added Multi-Collateral DAI (cDAI) as the eighth money market available on Compound. At the time of this writing, there’s about $2.7 million of supply in the market, and $2.3 million of active borrowing. We’re excited to watch this new Compound market grow, along with the entire DAI ecosystem.
For live figures please refer to our /markets page.
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