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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.


DAI Now Accepted At Millions Of Online Retailers

19 Feb 2020 1 minute read 0 comments crypto_block

DAI Now Accepted At Millions Of Online Retailers Coinbase Commerce has added the DAI stablecoin as a supported payment method.     According to reports by Cointelegraph, a “pay with crypto” button can be added to merchant's ch...

Second attack!! zBx DeFi lending protocol exploited again in less than 5 days, this time the protocol lost $645k!!

18 Feb 2020 1 minute read 0 comments alberdioni8406

It's been less than a week when news was running out connecting a "suppose" attack that happened in the zBx DeFi lending protocol, that actually happened despite didn't caused any loss to the customers funds it damaged the bZx lending protocol and 1,...

How to receive 19.82% APR on DAI

17 Feb 2020 1 minute read 0 comments favicon

First of all, this is more risky than for example simply using compound, because we will use 3 instead of 2 smartcontracts. And anything can happen :) Just be aware of the increased risks! Move DAI Move your DAI to iearn.finance Move yDAI to Curve G...

Publish0xTutorials: What to do with your DAI?

16 Feb 2020 5 minute read 5 comments bengy

  So, you have just cashed out your BAT (Basic Attention Tokens) from Publish0x (or elsewhere) and they are now sitting in a wallet to which you hold your own private keys. What to do with them now, what do they do? What is Dai?       Unsplash...

Coinbase commerce now let's merchant accept dai

14 Feb 2020 1 minute read 0 comments CryptoArgha

Coinbase commerce a product of famous crypto currency exchange coinbase United states based crypto exchange and wallet provider coinbase launched Coinbase commerce in 2018 Coinbase commerce lets merchant and business owners accept payment in crypto c...

Capture Receipts and Win. $3,000 DAI and 3 Airpods Pros Up For Grabs!

13 Feb 2020 1 minute read 0 comments Crypto_MD

HOW?1. Register on the www.instars.com 2. Log in3. Click tap "Activities">"Paid Experiences">Select Category4. Capture a picture of your receipt from within the past 24 hours at any of the featured locations and leave quick feedback about your experi...

Publish0x Tutorial - Ambassador Program

12 Feb 2020 1 minute read 5 comments EisbarTraume

Let's talk about Publish0x Ambassador Program. While I write this, it's my first time trying it out. I came across Publish0x through Brave browser ads, like perhaps some of you. Thank you Brave ;D    Logged in on your Dashboard on Affiliate Stats, yo...

So the DAI Savings Rate went down...

10 Feb 2020 1 minute read 1 comment favicon

DAO holders voted to reduce the DSR (DAI Savings Rate) down to 7.5%, which means there should be an overall reduction of interest, right? Wrong. While compound went down with it to 7.58%, Fulcrum's demand grew to 9.99% in the meantime. If you have yo...

Do you know how to borrow DAI using BAT as collateral in a DeFi ecosystem!! Follow this guidelines and in seconds you will have it on your wallet!

9 Feb 2020 2 minute read 6 comments alberdioni8406

I was wondering, how difficult is to use a DeFi (decentralized finances) application and, today spare some time to get more interaction with the DApp and, why not borrow some crypto. My experience was made, using the Trust Mobile wallet and also can...

How to get the best of DeFi

8 Feb 2020 1 minute read 1 comment favicon

DeFi is coming in hot, so here's how to make the best of it. 9.52% APR at the moment to be precise Of course this is decentralized and non-custodial! Buy ETH you need it. This is the only time you have to go custodial, unless you have an ATM or P2P t...