Rune Christensen, CEO and cofounder of MakerDAO, explains how multicollateral Dai will work, what happens if one type of collateral fails, and what happens when someone's collateralized debt position with multicollateral Dai needs to be liquidated. He also discusses who gets to participate in the various levels of governance with the MKR token, who owns those tokens and what the purpose of the Maker Foundation is. We also cover whether the CFTC would consider collateralized debt positions to be derivatives and therefore under its purview, how Dai is being used and how much education is required for people to use the system.

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Tokensoft: https://www.tokensoft.io

Episode links:

MakerDAO: https://makerdao.com/en/

Rune Christensen: https://twitter.com/RuneKek

Previous Unchained episode on stablecoins with Rune and Philip Rosedale of High Fidelity: https://unchainedpodcast.com/why-its-so-hard-to-keep-stablecoins-stable/

Unconfirmed episode with Rune on Andreessen Horowitz’s $15 million investment: https://unchainedpodcast.com/rune-christensen-of-makerdao-on-its-15-million-from-andreessen-horowitz-ep-039/

Part 1 of my interview with Rune: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-1-how-to-keep-a-crypto-collateralized-stablecoin-afloat/

Digital Asset Research report on MakerDAO: https://www.digitalassetresearch.com/our-products/#in-depth-research

CFTC smart contracts primer prohibiting derivatives contracts that are traded on exchanges that are supposed to be registered with the CFTC and are not.  https://www.cftc.gov/sites/default/files/2018-11/LabCFTC_PrimerSmartContracts112718.pdf

Nice recap of how Dai has performed as ETH has dropped in price: https://medium.com/@mikeraymcdonald/single-collateral-dai-9-months-in-review-b9d9fbe45ab

MKR Tools website: https://mkr.tools/tokens/dai

Description of Maker Tools: https://medium.com/@mikeraymcdonald/announcing-the-new-mkr-tools-e32466f1c3db

Maintaining its peg as ETH dropped:

https://medium.com/makerdao/volatile-times-dai-as-a-safe-haven-2f017453e9f1

MakerDAO and Wyre partnership: https://www.prnewswire.com/news-releases/makerdao-and-wyre-give-businesses-immediate-access-to-dai-stablecoin-in-over-thirty-countries-including-usa-300696400.html

ETH in DeFi projects: https://mikemcdonald.github.io/eth-defi/

Placeholder VC blog post: https://www.placeholder.vc/blog/2019/1/23/maker-investment-thesis

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