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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 324 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...

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...

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

11 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...

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...

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

13 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...

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...

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...

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...

DAI - A Solution for Uncertainity & Liquidity Demand - Technical Analysis?!

12 Jun 2019 1 minute read 11 comments chrispop

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...

May 2020 Leaderboards Contest is Now Complete: $160 in $DAI Paid to Top Ambassadors!

10 Jun 2020 1 minute read 15 comments Igor Tomić

Every month, we pay the ambassadors who refer the most active new users to Publish0x.com This month, we've paid the top 15 ambassadors their share of the $160 in DAI rewards pool. Congratulations to the winners, and thank you to all of the members wh...