On October 15, Ground X announced that MakerDAO will participate the Klaytn Governance Council.

MakerDAO is a blockchain-based distributed computing platform that issues its own stablecoin called Dai(DAI) for various digital assets such as Ethereum, Bitcoin, Compound, and etc for collateral.

In August 2020, MakerDAO launched EveryDAI which connects DAI and KLAY by collaborating with Ozys, a blockchain technology company. Through EveryDAI, Ethereum based DAI can be transferred to Klaytn-based DAI, called K-DAI, and vice versa.

By participating in the ‘Klaytn Governance Council’, MakerDAO will be responsible for the operation for the Consensus Node along with making major decisions on Klaytn technology and business. Through joint research with Klaytn, It also plans to increase practical use cases of K-DAI and develop Klaytn-based services and infrastructure to establish the foundation for cross digital assets across multiple chains. MakerDAO will cooperate with Ozys to expand the domestic Klaytn ecosystem.

Translated by Young Hwang