CALIFORNIA — Dec 17, 2019 — Today DAI users can invest on Constant’s platform using the newly-released multi-collateral DAI stablecoin (not to be confused with the old single-collateral DAI now called “SAI”).
DAI is a decentralized stablecoin from MAKERDAO (MKR) built on the Ethereum blockchain. Its initial DAI coin (hereafter referred to as SAI) was designed to maintain its value against the US dollar through collateralized ETH tokens in Ethereum smart contracts.
In November 2019, Maker announced the launch of the multi-collateral DAI — a DAI backed by multiple tokens besides ETH. The new DAI will offer its users new benefits like higher stability, more cross-platform integration, and a new DAI Saving Rates (DSR) feature. Constant is among the first financial platforms to support the new multi-collateral DAI.
“The arrival of multi-collateral DAI is another step towards the vision of creating a decentralized platform to help level the economic playing field for people around the world,” said Maker Foundation CEO Rune Christensen in an interview shortly after the launch announcement.
Since its launch in May 2019, Constant has matched US$6M in investments and loans. It has become the largest P2P lending platform in Southeast Asia, supporting over 60 different tokens and helping match thousands of lenders to borrowers worldwide.
With their new DAI listing on the back of previous collaborations with USDT, USDC, BUSD, TUSD, PAX and DGX, Constant now offers one of the widest selections of stablecoins for investment in the industry.
Besides enabling DAI holders to access competitive P2P loans on Constant’s platform, MAKER and Constant also plan to explore possible tech and marketing integrations to promote community engagement between both parties.
“We hope that introducing Constant’s system to MAKER’s enthusiastic community will give them a great new tool to grow wealth using DAI as we currently offer an average market rate of 9% APR. We strongly believe that the collaboration between our two projects will grow further as we have many similarities,” said Zon Chu CEO of Constant.
About Maker (MKR)
Maker (MKR) is a decentralized autonomous organization (DAO) built on the Ethereum blockchain as well as a cryptocurrency and governance token. Maker is in charge of two tokens — Maker token(MKR) and USD-pegged stablecoin Dai (DAI launched in 2017). Both of them are issued on the Ethereum network according to the ERC-20 standard.
Headquartered in California, Constant is an alternative financial services platform designed to strip out the inefficiencies of the traditional banking industry and help people get more out of their money. Constant was founded by a team of scientists, economists, engineers, and designers, fully devoted to the mission of building simple, elegant financial tools for an increasingly interconnected world.
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