MakerDAO Makes Chainlink, Compound and Loopring Collateral

MakerDAO Makes Chainlink, Compound and Loopring Collateral

By Abhimanyu Krishnan | News | 1 Oct 2020

Decentralized stablecoin platform MakerDAO (MKR) on September 30 added support for Chainlink (LINK), Compound (COMP) and Loopring (LRC) to act as collateral to generate DAI.

  • LINK, COMP and LRC can now be used as collateral in Maker Vaults
  • The governance community voted in favor of adding these assets on September 28
  • Maker has added support for several new tokens to serve as collateral in 2020, including Wrapped Bitcoin (wBTC), Kyber Network (KNC) and 0x (ZRX), as well as two real world assets
  • Maker has added 11 new tokens for collateral in 2020 with the aim of stabilizing DAI’s peg tighter to 1 USD

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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