MakerDAO Launches Canonical DAI Between Arbitrum Nova and Ethereum

MakerDAO announced that it has launched its cross-chain solution Canonical DAI between Arbitrum Nova and Ethereum. The deployment of this bridge has been executed by the Protocol Engineering Core Unit without the need for an Executive Vote due to the permissionless nature of the bridge. The deployment of this official Dai bridge will also ensure that users of Arbitrum Nova are using Canonical Dai from the beginning, thereby removing the need for any token migration.  Canonical DAI is reported to be a way to move DAI off-chain. Essentially, Canonical DAI allows for a MakerDAO backed version of wrapped DAI.