After more than five years since the concept for the Dai stablecoin was announced, and nearly three years since the first version of Dai officially launched, the MakerDAO project has today reached another major milestone: 1 billion Dai have been generated against collateral locked in Maker Vaults.
MakerDAO was built to provide anyone, anywhere with a better, unbiased, transparent way to participate in the global financial system. “One billion Dai in circulation is a powerful validation that people around the world want more access, more opportunity, and more control over their finances,” says Rune Christensen, Maker Foundation CEO. “A huge congratulations to Maker community members, devs, partners, and every Dai user for getting us to this milestone. Thank you, and let’s remember to keep it going! There is still plenty of work to be done to level the economic playing field for everybody.”
Maker, a leader in crypto and the DeFi movement, was one of the first projects to launch on the Ethereum blockchain. In fact, the earliest community developers wrote the Maker Protocol software while Ethereum still ran on testnet. Today, the Maker Protocol is one of Ethereum’s most successful DeFi applications, as nearly 800 projects have integrated Dai or other components of the Protocol in their apps or services.
The last five years have been formative for crypto, with highs and lows along the way. Since 2015, MakerDAO has been a part of that landscape, making history as it built its community and increased its influence in the sector. Here are some noteworthy milestones of the project so far.