The Maker Foundation yesterday launched Oasis Trade, a decentralized finance (DeFi) platform that runs on the Ethereum blockchain. Oasis Trade is a non-custodial, permissionless platform. Its order book is fully on-chain, it’s completely decentralized, and it uses open-source software.

Right now, all users can do on Oasis Trade is trade Basic Attention Token, 0x Coin, Augur, and Ethereum, against Dai, Maker’s crypto that’s pegged to the US dollar. 

Eventually, Oasis Trade will support a multitude of collateral assets backing the Dai token. And soon, users will also be able to earn savings by locking up Dai in a smart contract called Oasis Save. These savings will be automatic and non-custodial. Users will also be able to borrow funds by locking tokens up as collateral, which generates Dai.

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These new features will come with the launch of Multi-Collateral Dai, which will let users stake different sorts of tokens to generate Dai.

Oasis Trade is an upgrade from eth2dai.com, and like its predecessor it builds on the open-source OasisDEX Protocol, a decentralized token market. OasisDEX is one of the few DEXes that was fully on-chain, open-source, permissionless and decentralized. Anyone can build a project on it to contribute to the DeFi ecosystem at large. 

And it’s been successful: “The OasisDEX Protocol is the biggest on-chain liquidity pool for the ETH/DAI market and it is fundamental to the health of the entire DeFi ecosystem,” said Bartek Kiepuszewski, Head of Oasis at Maker.