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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.


Everything you need to know about MakerDao and Dai

1 Jun 2019 14 minute read 248 comments Zoran Spirkovski

The MakerDao is a smart contract on the Ethereum blockchain representing a decentralized collateral-backed cryptocurrency (DAI - a stable coin following the value of the US dollar), providing collateral loans, and a community governance system. The p...

April Publish0x Ambassadors Leaderboards Contest Completed: $165 in DAI Paid Out!

11 May 2020 1 minute read 15 comments Igor Tomić

The prize pool for the Ambassadors Leaderboard contest in April was $165 DAI, split between 16 of our most successful ambassadors. The rewards are added to users accounts, and can be withdrawn on Mondays, our regular payout dates. You can see the tra...

Quick Guide: Setting your wallet on Publish0x to receive earning in Atomic Wallet

2 May 2020 1 minute read 12 comments xqanxxx

In response to one of the comments to my posts on how to convert your earned $BAT, $LRC and $DAI to any of the top cryptos, I had to publish this tutorial and I promise to make it simple and easy to understand. Now let's get to work!  Things you shou...

Crypto Is FAST - Here's Why That Matters

20 May 2020 2 minute read 5 comments The Part Time Economist

Cryptocurrency has a lot of benefits over traditional payment mechanisms. It is decentralized, and it has an algorithmically determined money supply that leads to a stable currency. Those are all very important benefits, but to the everyday user, the...

Most common types of ad fraud that appear on new ad networks

30 Apr 2020 4 minute read 1 comment AdEx Network

Fraud has always been one of the biggest pain points of the $81 Billion advertising industry with up to 20% of all ad traffic accounted to malicious parties and fraudulent bots. Having this in mind, when we released the AdEx platform for everyone in...

Publish0x Publish Their Weekly Stats

9 May 2020 2 minute read 34 comments Bragato18

Woke up this morning to a Twitter notification from @publish0x on my mobile.  Publish0x released their weekly payments to Publish0x users. This week we've sent 1343 payments to #Publish0x users; 15,863 $LRC, 221 $DAI and 4155 $BAT. We recommend you...

Top 3 crypto news for the week (LTC, BAT, ADA, DAI)

24 May 2020 2 minute read 10 comments Call me Steven

Alrighty, so, without further ado, let's dive right in. This week's top 3 news on LTC, BAT, ADA and DAI:   3. Atari partners with Litecoin Foundation Saying Atari has been here for a while is an understatement. One of the most iconic names in the gam...

Multi-Collateral Dai: Maker

23 May 2020 5 minute read 4 comments M87

As the cryptocurrency ecosystem evolved towards Decentralized Finance (DeFi), one project has grown to be a large part of DeFi on the Ethereum blockchain. Maker (MKR) is a Decentralized Autonomous Organization (DAO) built on the Ethereum blockchain a...

PoolTogether New Pod Feature: More Chance To Win Money

27 Apr 2020 2 minute read 14 comments tomoyan

brief: Usually PoolTogether is categorized as "No-Loss Crypto Lottery" and I kind of agree with the term because you "buy" a ticket to win prizes. But this is not a lottery. No one loses their money, because the ticket money goes into their savings a...

Publish0x Tipping Study - How tokens are distributed and how much you can make just from tipping

18 May 2020 3 minute read 7 comments piliz

I've seen more and more talks emerge about tipping in Publish0x regarding which coins are given the most, if the chosen percentage has an impact on the tip value, and so on. I've been a reader/writer here since January, and over the past three weeks,...