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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.


Market Surprises as There is Now More DAI in Compound than Its Total Supply

10 hours ago 1 minute read 1 comment Abhi K

The amount of DAI on-chain has been eclipsed by the amount of DAI locked in the Compound Finance (COMP) protocol. Dan Yanev, COO of the DeversiFi exchange, pointed out the interesting development on Twitter on July 3, which can be confirmed by taking...

Publish0x: The best way to withdraw BAT, DAI and LRC.

12 hours ago 1 minute read 2 comments MadMaxx

Many people have different ways of withdrawing their earnings from Publish0x. Some people decide to use Coinbase for DAI and BAT, and LRC stays away. Others use some other wallets to collect BAT, but have the DAI sent to their Coinbase and the LRC ha...

The big DAI mystery.

4 Jul 2020 1 minute read 3 comments MadMaxx

I was browsing through my Compound.finance account today, checking on my earnings and looking to transfer some profits to my personal wallet when I saw something very special in the DAI section. The amount of DAI on compound was a mind blowing 532 mi...

Passive income with BAT, DAI, BTC and BNB: I found a way for all three!

4 Jul 2020 3 minute read 2 comments MadMaxx

Passive income is the most sought after thing by millennials today. It's simply when you make money without putting in any physical effort. It's more or less your money working instead of you. It sounds great and all, but how can you make passive inc...

Celsius Network: The best app to receive interest payments for your cryptocurrencies (DAI, BTC,BCH, ETC.)

3 Jul 2020 2 minute read 0 comments trebol11

Celsius Network is an app (for android and IOS) that gives interest by depositing your cryptos. The company was founded in 2017 by Alex Mashinsky (CEO) and Daniel Leon. Mashinsky is notable for his work bringing cell phone service and free WiFi to th...

League of Kingdoms launching tomorrow!

2 Jul 2020 1 minute read 4 comments Heruvim78

I cannot even tell you how excited i am for League of Kingdoms, as i was waiting for more than one month for this game to be launched. And get some more DAI daily to stake on my Celsius.network account for a mere 11.90% interest paid weekly. It will...

How much Crypto you can earn on Publish0x per 15,000 views / in 2020 these are the results...

28 Jun 2020 3 minute read 2 comments Crypto adict (Manu VZ)

Hello family at any time you are reading this, I wish you have the best day of all. Today I will talk about how much crypto you can earn for 15,000 views on Publish0x.But I will start with the most important thing, in short everything you want to pub...

DAI-Decentralized stablecoin

27 Jun 2020 3 minute read 0 comments Cryp Tech

The history of DAI Dai is the first decentralized stablecoin issued on Ethereum. At the end of 2017, compared with other stablecoins, DAI is the most unique and decentralized one. Banking facilities (ie DeFi) play an important role. The following is...

HOW to create a source of income? HOW to increase your DAI? try doing STAKING with Synthetix Network. (GUIDE Step by Step).

25 Jun 2020 6 minute read 7 comments Crypto adict (Manu VZ)

Hello friends, how are you today? I am going to show you how to STAKING with Synthetix Network Token. Is a token that is quite popular and at the moment it is actually paying quite well as a staking and it is a very interesting project and can have...

Maker to Vote On KNC and ZRX As Collateral Tokens

22 Jun 2020 1 minute read 2 comments Abhi K

On June 15, MakerDAO (MKR) has announced that its governance community will vote on the inclusion of Kyber Network (KNC) and 0x (ZRX) as collateral for generating DAI. The community began voting on the improvement proposals on June 15, with the execu...