On June 29th, 2019 Ethereum Technology and Application Conference hosted by CSDN was held in Beijing. Pan Chao, head of MakerDao China, said that the stable currency DAI will shift from single mortgage (ETH) to multi-collateralization, but the current preferred collateral category is Ethereum ERC20 token. Other notable changes include the addition of interest-free deposit interest, global auctions of collateral at the time of liquidation, and payment of stability fees through DAI. Of particular note is that this is the first official announcement that the payment of stability fees has changed from MKR to DAI, and Pan Chao told Babbitt that this is to “reduce friction”. Some investors believe that this will make MKR become a chicken rib and affect its price. In this regard, Pan Chao said: "No, MKR will still be repurchased."