The historical backdrop of the Producer environment went through different stages, the first was the MakerDAO. This was made in 2014 by Rune Christensen, a Danish business person and graduate of the College of Copenhagen. Subsequent to concentrating on global business and natural chemistry, Christensen helped to establish the enrollment organization Attempt China prior to moving into blockchain. Dai was authoritatively launched on the Ethereum network in 2017, followed the following year by the arrangement of the Creator Establishment, an association which plans to fuel development of the environment and is leading endeavors to decentralize improvement. Christensen fills in as Chief of the establishment, while others on the board incorporate President and COO Steven Becker, who recently established Cubit Capital, and financial specialist Shefali Roy. When Maker Protocol was first introduced, Ethereum was the only asset that could be collateralized; the Dai that was produced was referred to as Single-Collateral Dai, or Sai. Any kind of Ethereum-based asset that has been accepted by the MKR holders community can now be deposited thanks to the implementation of the MCD system in 2019.