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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.


Publish0x Improves their Withdrawal System

15 May 2020 2 minute read 0 comments CryptozNewb

Publish0x, the crypto-powered blogging platform, has recently made a much needed improvement to their coin withdrawal system allowing users to select different withdrawal wallets for each type of coin they can earn on the site.   Publish0x Overview F...

Publish0x: The Best Way to Cash Out

13 May 2020 3 minute read 12 comments Thomas Wolf

This is a confirmed technique.  I received all three of my payments and have no plans to change withdrawal methods! First, cashing out to exchanges is advised against but with Coinbase I can confirm it works.  Here is my article showing a step by st...

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...

Stablecoins in Crypto market

10 May 2020 2 minute read 0 comments Kavi

  Crypto market is all about high volatile and probably short term trading . in 2015 , tether (USDT) entered in the market for the purpose to stablise the market with backed USDT which was pegged with US dollar in 1:1 ratio in terms of value. before...

What is the MakerDAO?

10 May 2020 1 minute read 2 comments Emir Can

MakerDAO is a decentralized organization. We can write smart contracts with makerdao that work on eth blogchain.       -Maker eth can offer various financial services using blogchain. And it eliminates centralized administration. - The solutions off...

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...

DeFi & DAI with the Status Messenger Wallet

6 May 2020 2 minute read 0 comments Status Community Updates

Decentralized finance (DeFi) is an umbrella term that could refer to a lot of cryptocurrency. After all, holding ETH instead of a fiat-backed currency is a way of altering one's financial portfolio with a decentralized asset. But DeFi as we know it t...

MakerDAO's Wrapped Bitcoin Makes it Possible to Generate DAI from Bitcoin

4 May 2020 1 minute read 2 comments Abhi K

The MakerDAO governance voted in favor of supporting Bitcoin's addition  Bitcoin becomes 4th asset capable of generating DAI Wrapped Bitcoin (wBTC) expected to increase liquidity for DeFi  On May 3, the MakerDAO’s governance community voted in favo...

Storm-Play: An app to win Bitcoin, Ethereum, Litecoin and DAI with your cell phone

4 May 2020 1 minute read 0 comments trebol11

Storm Play, only works for Android phones and its operation is super simple. Just log in every 30 minutes to the app, watch a video, and collect your winnings.   Functioning: You only have to enter the section "Claim", and click where it says "500 bo...

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...