DAI's stable collateral multi-collateral borrowing system will be launched on November 18. The date was named by MakerDAO Foundation CEO Rune Christensen at Devcon.

Everything you need to know about the upcoming launch of Multi-Collateral #Dai on November 18th! https://t.co/9TSXCaTrJL

– Maker (@MakerDAO) October 9, 2019

According to him, work on multi-collateral DAI (MCD) lasted five years.

Currently, users of the decentralized financing platform can receive DAI tokens secured by Ethereum (ETH). After the launch of MCD, any cryptocurrency for which the owners of the MakerDAO tokens will vote can become a guarantee.

Prior to voting, the likely new collateral asset should be considered by the MakerDAO Foundation's risk assessment team. Risk Team is currently evaluating seven cryptocurrencies, including the Augur predictions market REP tokens and the Brave blockchain browser BAT.

Christensen said that after the approval of the new collateral assets, MCD will allow DAI users to earn interest by blocking funds in the DAI Savings Rate (DSR) smart contract. The interest rate will be volatile, but it will probably be higher than under the recently launched Coinbase deposit program for the stablecoin USDC, he added.

Recall that at the stage of testing the MCD, a critical vulnerability was discovered in the system that could lead to the loss of 10% of the total security deposit.

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