DeFi OG Protocol MakerDAO Announces April 28 StarkNet Integration For Cheaper DAI Transactions

Built by Netanya-based blockchain infrastructure developer StarkWare, StarkNet functions as an Ethereum-powered layer 2 solution. The protocol scales transactions on the blockchain by leveraging zero-knowledge technology.

MakerDAO’s Four-Step Integration Plan

According to the MakerDAO team, onboarding StarkNet’s ZK rollups will happen in four phases. The current timeline for the upgrade runs from Q1 2022 to Q1 2023. 

Firstly, the DeFi heavyweight will deploy a simple token bridge designed for DAI stablecoin transactions. This bridge is scheduled to go live on April 28, 2022. Afterward, the team will add operability between layer 2 and layer 1 to facilitate speedy withdrawals before the end of Q2 2022.

For the third phase and Q3 2022, MakerDAO will deploy support for DAI teleporting between layers by leveraging a Wormhole design. In the fourth and final phase, the DeFi OG protocol will unveil complete multi collateral DAI (MCD) by Q4 2022 or Q1 2023. The team said MCD will deploy fully on StarkNet’s sidechain, giving DAI users wider operability and utility. 

The team emphasized that the StarkNet integration is another milestone on the road to achieving comprehensive multichain functionality. Two other Ethereum-based scaling protocols, Arbitrum and Optimism, were previously onboarded by the DeFi heavyweight as well.

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