MakerDAO Calls for Change to Terminology

With Multi-Collateral Dai launching later this month, the Maker Foundation has decided it’s a good time to fix the terminology within the protocol.

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.

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