Maker to Vote On KNC and ZRX As Collateral Tokens

Maker to Vote On KNC and ZRX As Collateral Tokens

By Abhimanyu Krishnan | News | 22 Jun 2020


On June 15, MakerDAO (MKR) has announced that its governance community will vote on the inclusion of Kyber Network (KNC) and 0x (ZRX) as collateral for generating DAI. The community began voting on the improvement proposals on June 15, with the executive voting taking place on June 22.

The MakerDAO community has voted on several tokens since the introduction of multi-collateral DAI, with the first being the Basic Attention Token (BAT). Other tokens that have been approved as collateral are USD Coin (USDC), Wrapped Bitcoin, and two real world assets based on invoices and music royalties. 

Other tokens that have been discussed as collateral options are Augur (REP), DigixDAO (DGX), Golem Network (GNT) and OmiseGO (OMG).

MakerDAO has received a lot of attention in recent months. The World Economic Forum (WEF) recognized it a technology pioneer. On the other hand, it is facing a $28 million lawsuit for the CDP liquidation that occurred on “Black Thursday.”

It has also been surpassed by Compound Finance’s newly formed token COMP in terms of defi market capitalization and total value locked.


Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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