MakerDAO deploys on layer-2 network StarkNet to enhance functions of DAI stablecoin

MakerDAO, a decentralized autonomous enactment serving the fashionable DeFi lending protocol Maker, has announced an upcoming deployment docket connected the decentralized zero-knowledge (ZK) Ethereum rollup, StarkNet.

Expected to go afloat operational successful the 3rd 4th of this twelvemonth arsenic identified successful the protocol's roadmap, the integration volition question to heighten the multichain capabilities of their dollar-pegged stablecoin DAI, and associated Maker Vaults function, by striving to trim transactional outgo and throughput velocity connected the network.

The determination is mostly accordant with their overarching multichain strategy archetypal witnessed via the motorboat of DAI token bridges connected some Optimism and Arbitrum One successful March and September 2021, respectively.

Core Unit Facilitator astatine StarkNet Engineering, Louis Baudoin noted that “as we spot unsustainable state fees thrust much enactment and users to a wider assortment of blockchains, information challenges that travel with bridging volition proceed to grow”, earlier stating that:

“Projects indispensable determination connected to Layer-2 to proceed to service users, and MakerDAO is partnering with StarkNet to bash precisely that. With this strategy, we are positioned to cement the Maker’s Protocol’s presumption arsenic the starring decentralized lending protocol successful the industry, and besides the presumption of DAI arsenic the astir decentralized, unafraid stablecoin.”

Related: MakerDAO assemblage connection to regenerate MKR governance token

— MakerDAO Growth (@MakerGrowth) April 19, 2022

In February this year, StarkWare co-founders Uri Kolodny and Eli Ben-Sasson spoke to Cointelegraph astir the scalability requirements for the cryptocurrency's mainstream adoption. This followed the motorboat of their inaugural decentralized applications (dApps) connected the StarkNet platform.

According to analytical information from DeFi Llama, MakerDAO is presently placed 4th successful the leaderboard for total-value-locked with $14.24 billion, lone down Curve, Lido and Anchor.