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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.


Wanna stake?

30 Mar 2020 1 minute read 0 comments mousewebbbe

You know Kucoin ?? This site make stake on multiple crypto deposit you dai and grown it    Cosmos(ATOM),EOS(EOS),Tron(TRX),Internet of Services(IOST),Neblio (NEBL),DeepOnion (ONION),Energi (NRG),NULS (NULS),TomoChain (TOMO),EOSForce (EOSC),Lo...

Dai Savings Rate down, now what?

28 Mar 2020 1 minute read 0 comments favicon

Originally posted on my Hive Blog. Want a free account? Contact me via DMail: dexcited.id.blockstack MakerDAO and DAI are facing a lot of problems - in an attempt to keep DAI stable, the savings rate has to suffer. That's the plan at least... Here...

Here's What the 2 Trillion Dollar Stimulus Package Means for You

28 Mar 2020 2 minute read 9 comments bettercallpaul

Here's What the 2 Trillion Dollar Stimulus Package Means for You We Have the Straight Drop on What to Expect and When to Expect It A COVID-19 Special Edition of the Better Call Paul Blog [JACKSONVILLE, FL - 03/27/2020]  So, just a few hours ago,...

Publish0x HYDRO withdraw limit changed?!?!

26 Mar 2020 1 minute read 11 comments TrocProcLock

So in the past the minimum withdraw limit has been a couple hundred HYDRO. And usually it takes me a while to earn enough HYDRO to withdraw it so I don't really pay any attention to my HYDRO amount. But last night I was curious as to what the withdra...

Compound DAI with compound.finance decentralized app

26 Mar 2020 1 minute read 2 comments KRYS

Hello guys, this is my first blog post in the platform of publish0x, please be nice to this newbie .In this article you'll learn how you can earn interest on your DAI stable coins, so if you've got DAI you can keep on reading. The following method in...

Anti-Volatility Measures with DAI

19 Mar 2020 1 minute read 9 comments benlakoff

  DeFi has become the stand-out application of blockchain technology. There have been some bumps lately, but I'm still long-term bullish on the space. 2key Network has chosen DAI over other stablecoins for the hedging process involved to protect use...

Maker Governance - Proposal for Collateral Onboarding of USDC (Approved)

17 Mar 2020 3 minute read 1 comment yemyy

What is Governance? Governance is a process through which a group of stakeholders come to a decision on a particular change within their system or organization. Many centralized entities have expedited the governance process through the nomination o...

DAI $DAI | 2020 HODL Experiment

16 Mar 2020 2 minute read 3 comments Cryptolohy

Public Service Announcement: I am running a year-long giveaway, check out how you can participate here: https://www.publish0x.com/cryptolohy101/cryptolohys-airdrop-and-giveaways-experiment-2020-edition-xzxewg?a=Vyb896ldvA   Wow, what a couple of da...

DAI arbitrage is CRAZY right now!

15 Mar 2020 1 minute read 0 comments favicon

You can currently swap DAI to USDT for a whopping 5-6% premium! Source: https://kyberswap.com/swap/dai-usdt DAI is supposed to be worth around $1, but due to the high demand caused by ETH crash, the value went up. Source: https://paraswap.io/...

1,906.2400 HYDRO Minimum Withdraw 😱 How The Crypto Crash Affects Publish0x

14 Mar 2020 2 minute read 19 comments Cryptonator`s Airdrop Hunt

You can tip three different cryptocurrencies on publish0x right now, Basic Attention Token, HYDRO, and DAI. Let`s have a quick look at the effects of those week`s crypto crash on publish0x. The Current State Of Affairs At BAT, DAI And HYDRO The crypt...