There are two key changes which the Foundation wish to make clear, and urge the community to adopt:
1. The introduction of the term “Vaults”
This change is simple – rather than using the ambiguous acronym of “CDP”, collateralized debt positions will now carry a more user-friendly term.
Maker will now be calling CDPs “Vaults”. Each asset type will be given its own Vault when it is supplied to the Maker Protocol.
2. Dai vs Sai
Moving forward, we require a way to distinguish between the “old” and “new” Dai systems and tokens.
In order to do so, the Maker Foundation has proposed that Multi-Collateral Dai retains the name “Dai” – for which they have designed a new Dai logo.
On the other hand, the old Single-Collateral Dai system and token will be now known as “Sai”.
New terminology effective immediately
All new Maker Protocol user interfaces and documentation will immediately begin using the new terminology.
One point to note, however, is that functions within the Dai SDK code and other tools will retain function names including the term “CDP”. The documentation, however, will be updated to reflect the term “Vault”.
Multi-Collateral Dai will be released on November 18, 2019.
Alejandro is a blockchain writer and consultant who has been involved in the space since early 2016. Being extremely passionate about this emerging technology, he has written content for a myriad of projects and news outlets.