Dai StableCoin (DAI)

102 Articles 7 Followers

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.


DAI Token Integrated For Tipping on Publish0x

3 Jun 2019 1 minute read Dan Bainbridge $12.31 tipped

Today we are super excited to integrate our 3rd token for tipping - DAI . The eth based stable coin created by the Maker DAO project smart contract. It's important to note that this is NOT a "sponsorship". We haven't taken any payment from MakerDAO o...

Everything you need to know about MakerDao and Dai

1 Jun 2019 14 minute read Zoran Spirkovski $9.32 tipped

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DAI Statistics: Leading by example

26 Jun 2019 6 minute read Niklas Spille-Scheich $7.22 tipped

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DAI: The Decentralized Stablecoin

5 Jun 2019 5 minute read jwrandolph $6.47 tipped

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3 weeks ago 8 minute read fblauer $6.02 tipped

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Maker promises to pass the barrier of $ 800 in a short time.

9 Jun 2019 4 minute read daniejjimenez $5.85 tipped


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12 Jun 2019 1 minute read chrispop $5.75 tipped

I want to start off by defining a stablecoin. I don't want to bore you with the Wikipedia definition so a stablecoin is a cryptocurrency that has low volatility by being backed up with fiat currencies, different assets like gold, silver, etc.  Our su...

Why I Think Everyone Should Have a Piece of MakerDAO ($MKR)

10 Jul 2019 2 minute read kevW!ls0n $4.54 tipped

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xDai and the Burner Wallet - demonstrating the power of blockchain

9 Jun 2019 2 minute read Optimist $4.18 tipped

Most people within the crypto space will have already heard about Dai and MakerDAO – and hopefully this will even soon extend beyond just the crypto space! However, despite this amazing achievement, the user experience can sometimes still leave more...

A Quick Review Of Maker Project

14 Aug 2019 3 minute read Rumi $3.34 tipped

Whаt іѕ Maker DAO? Maker DAO іѕ а protocol bеhіnd thе stable coin DAI — a cryptocurrency thаt maintains а 1:1 peg tо thе USD. Thіnk оf 1 DAI аѕ $1. Whаt mаkеѕ іt unique іѕ еасh DAI іѕ backed bу Ether іnѕtеаd оf а 3rd party claiming tо hаvе thе requ...