MakerDAO is deployed on the StarkNet Layer 2 network to enhance the capabilities of the DAI stablecoin

MakerDAO, a decentralized autonomous organization (DAO) serving popular DeFi lending protocol Maker, has announced an upcoming deployment plan on Ethereum’s zero-knowledge decentralized (ZK) platform StarkNet.

The integration, which is expected to be fully operational in the third quarter of this year, as indicated in the protocol roadmap, will seek to improve the multi-chain capabilities of its dollar-pegged stablecoin DAI and its associated Maker Vaults feature to reduce transaction costs and network performance speeds.

The decision is broadly consistent with its overall multi-chain strategy, initially seen through the launch of DAI token bridges on Optimism and Arbitrum One in March and September 2021, respectively.

MakerDAO is deployed on the StarkNet Layer 2 network to enhance the capabilities of the DAI stablecoin
MakerDAO is deployed on the StarkNet Layer 2 network to enhance the capabilities of the DAI stablecoin

Louis Baudoin, facilitator of the StarkNet Central Engineering Unit, noted this “As we see unsustainable gas tariffs drive more activity and users to a greater diversity of blockchains, the security challenges that come with bridges will continue to increase.”before I say this:

“Projects need to be moved to Layer 2 to continue serving users, and MakerDAO is working with StarkNet to do just that. With this strategy, we are able to solidify Maker’s Protocol’s position as the leading decentralized lending protocol in the industry and also DAI’s status as the most secure and decentralized stablecoin.”

Optimistic for our first Twitter section! ️ @prose011 will be hosting this first issue where we’ll be speaking to @KryptoKiril from @Nexo.

Parent topic: $MKR, $DAI, @Nexo and CeFi and DeFi Integrations.

When?: April 21 at 16:00 UTC

Where?: Here, on this Twitter account!

In February of this year, StarkWare co-founders Uri Kolodny and Eli Ben-Sasson spoke to Cointelegraph about the scalability requirements for mainstream cryptocurrency adoption. This followed the launch of its first decentralized applications (DApps) on the StarkNet platform.

According to analytical data from DeFi Llama, MakerDAO currently ranks fourth in the ranking by total value of $14.24 billion, behind only Curve, Lido, and Anchor.

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