What is DAI?
DAI, made by the MakerDAO (MKR) group and running on the Ethereum blockchainas an ERC20 token, is a progressive stablecoin in light of the fact that it is decentralized and hence subject to no government's investigation It delicate pegs with the estimation of USD at a 1:1 proportion however sponsored by the decentralized ETH token rathert than the brought together US dollars like Tether. DAI lives totally on the blockchain, making it borderless and accessible to anybody, anyplace. An impartial money, DAI's worth doesn't depend on any trusted counter parties and its dependability is unhampered by legislative issues or government obligations. All DAI is upheld by a overflow of guarantee that has been exclusively escrowed into examined and openly distinguishable Ethereum savvy contracts. Anybody with an Internet association can screen the well being of the framework whenever at mkr.tools. Additionally, you can send or get at whenever, anyplace as long as you have an Ethereum Wallet.
Features of DAI
Secure and Decentralized
Each DAI is sponsored by a specific measure of ETH dependent on the current ETH/USD rate. Later on, it very well may be broadened and permitting numerous resources for ensure its worth. 4/30/2020 Introducing the Newly Added DAI/SGD Pair
The data on the bolted guarantee backing is available to see openly. Additionally, the ETH value feed put in it is constrained by a straight- forward Decentralized Autonomous Organization (DAO), rather than any individual or brought together government or organization.
It offers the adjustment through the Collateralized Debt Position (CDP) that likewise help to encourage a proficient decentralized edge exchanging stage.