Coinbase adds Maker governance before important Dai vote

Coinbase announced on their blog today that Maker holders will be able to help govern products like Dai through voting on their website. In order to do so, users must hold MKR in their Coinbase Custody account.

Maker has had a respectably straightforward voting system for a while now. Compared how Ethereum is governed by dev’s judging “community consensus,” Maker at least puts a poll right on their website. 

Added right before Dai vote

Even though Multi-Collateral Dai (MCD) has been in the news as a feature that is coming soon, Maker holders still need to vote for it to come to fruition.

Maker is allowing only 3 days to vote. Polls become active on November 15th for a planned release on November 18th.

Community response to the idea of MCD has been generally positive. Maker themselves seem to be a huge proponent of MCD and releasing the option to vote on a platform like Coinbase shows their confidence in the tech. 

Do people hold Maker on Coinbase?

Right now, you can’t purchase MKR on Coinbase, so this change will fit the small niche of those who prefer to hold their tokens in a Coinbase Custody account.

Applying for an account in Coinbase Custody requires you to fill out information on your business. The feature is advertised as “institutional” so they aren’t making it any easier for the average person who uses Dai to vote on Dai.