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Dai StableCoin (DAI)

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DAI is one of the two stablecoins that support the MakerDAO stablecoin ecosystem launched by MakerDAO in 2016. DAI’s purpose in the ecosystem is distinct, being the actual stablecoin, as opposed to its governance token counterpart that is MKR.

Stablecoins are being created with increasing frequency and it forms one of the major trends of 2019. However, unlike most other stablecoins, the DAI token differs from others as it does not back DAI tokens with dollar reserves. Rather, it supports the value of DAI tokens through Collateralized Debt Positions (CDPs). CDPs are smart contracts that provide DAI tokens which are backed by collateral (Ether), which it holds until the DAI is returned. This is an integral function in the MakerDAO ecosystem.

The technique used to keep DAI’s value stable at $1 is quite clever. In short, the DAI token is always collateralized and if its value sways from $1, the network is incentivized to push the value back to $1. 

As the DAI token is simply a stablecoin, there is not much in the way of development for the specifically the token, though the team has released many details on the general development of the ecosystem. 

Several changes have been made to the ecosystem in 2019, including updates on the Maker governance system that allowed multiple polls to be conducted simultaneously, security audits, a bug bounty program in collaboration with HackerOne, and a lot of progress towards multi-collateral DAI. Seven new collateral types have been put up for a first round of voting: Augur (REP), Basic Attention Token (BAT), DigixDAO (DGD), Ether (ETH), Golem (GNT), OmiseGo (OMG) and 0x (ZRX)

The rest of 2019, and going forward into 2020, will see a vote to finalize all the changes that would allow multi-collateral DAI, voting on oracle providers, a rebranding and a presentation of general risk proposal model to the community for review, and much more.

LoK - [GHUB] BurgerLand dividends update - Day 65

18 Sep 2020 1 minute read 0 comments Burger

Dear [GHUB]BurgerLand Kings and Queens, Regarding transparancy of Burgerland Crypto Dividends, regular updates about DAI total and RSS total will be given on this blog. BurgerLands and Split Lands are the first two play 2 earn initiatives backing $Bu...


18 Sep 2020 1 minute read 1 comment espacioreal

90% of the time stablecoins are talked about, they come out with DAI and I can't understand why there are stablecoins that seem much stronger like USDC or USDT. USDT has many millions in circulation ... but nobody knows if they are backed or not. USD...

What Is Happening With DAI? - Stablecoin Not So Stable

17 Sep 2020 2 minute read 0 comments Juan Molina

Recently we can observe behavior in the price of the DAI that does not correspond to the principle established in its creation as a stable currency. I am specifically referring to the fact that its price has remained above 1 USD throughout 2020. Thi...

A New Crypto Day – A Modest Success Story

15 Sep 2020 1 minute read 3 comments rah

The sun is rising and the clouds are receding. It is a new day. Over the last few days the crypto predictors I watch have slowly been turning green again after being in the red for most of the month thus far. A few have held, but the worst case for...

Rant #13: Passive Crypto

15 Sep 2020 1 minute read 2 comments zpaul_2020blu

Something I've been looking at more lately is earning crypto in passive ways. To the guy that just yawned and switched the channel, thank you. This isn't for you. More of a knowledge seeking rant where I'd love some commentary below to help myself an...

LoK - [GHUB] BurgerLand PayDay 4

13 Sep 2020 3 minute read 1 comment Burger

Dear $Burger holders and [GHUB] BurgerLand Kings & Queens, It is the 4th PayDay already, day 60. Time is flying by but we are not sitting still. More Kingdoms, more Lands, more partnerships, better organization and an increasing activity among Kingdo...

DAI - Through the Roof ?

12 Sep 2020 1 minute read 3 comments Sergei Nemetz

Something is rotten in the State of DAI.   It seems now we are having a USD pegged token (a "stable coin") that cost USD 1.05 and seems hell bent on costing USD 1.10 Monday morning. Hell of stability indeed. I quickly checked if I could sell off all...

What are the Risks of DAI?

10 Sep 2020 1 minute read 1 comment espacioreal

What are the Risks of DAI?Some risks of DAI, in my opinion: High complexity of the contract code (compared to USDT and USDC) and therefore more probability of failures there (this is mitigated by the multiple audits that were made). The governance of...

Canadian Stablecoin Platform Comparison

8 Sep 2020 1 minute read 4 comments cryptoforcanadians

In one of my previous posts, I wrote about how PayTrie's a convenient way to buy stablecoins in Canada. As there are other platforms in Canada that I have learned about that also sell stablecoins since publishing that post, I thought I'd write a new...

When the market panic I keep buying more Crypto.

7 Sep 2020 1 minute read 3 comments alberdioni8406

One thing that we have to realize is that the crypto space came to stay and the ups and downs (bull and bear market) will be always part of the volatile space we deal on, and when it bear, better to keep buying! It's not necessarily need to be a whal...