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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.


#MyPublish0xAuthor - My Top 10 Favorite Publish0x Authors

20 May 2020 1 minute read 2 comments FrenchLegalAspect

Hi Publish0x community, to celebrate 100K accounts, there is my top 10 Publish0x Author with my comments. Let me know if you agree or not, and if you discover some of them by reading this top.   10. Abhi K  Bio : "Technophile, cryptocurrency enthusia...

All you need to know about DAI and Stablecoin

19 May 2020 3 minute read 0 comments AncaElena

First of all, WHAT IS A STABLECOIN? Stablecoins are just as the name implies. They are a cryptocurrency that has stability as their primary feature. They are pegged to the value of another asset and will hold the same value with that asset through ti...

BAT, LRC and DAI: Which is more useful?

19 May 2020 1 minute read 3 comments MadMaxx

If you have a keen eye(or any eye for that matter), you'd have noticed that the title comprised of the only cryptocurrencies we receive on Publish0x. Many people know them, and many people don't. So I'll be explaining what all of them are in this pos...

Publish0x Tipping Study - How tokens are distributed and how much you can make just from tipping

18 May 2020 3 minute read 7 comments piliz

I've seen more and more talks emerge about tipping in Publish0x regarding which coins are given the most, if the chosen percentage has an impact on the tip value, and so on. I've been a reader/writer here since January, and over the past three weeks,...

14 Day Review of 2 Publish0x Tipping Strategies - What I Have Learned

15 May 2020 3 minute read 15 comments Bragato18

The subject of tips and tipping has been a popular topic of late. We all get to make 7 tips of LRC, BAT and DAI each day to publishers who post blogs we like, follow, support or we can just tip randomly. Do you have a tipping strategy? Do you stick t...

ISSUE for setting after PUBLISHX0 DIVERSIFIES THE POSSIBILITIES FOR WITHDRAWING DAI, LRC, BAT CRYPTOCURRENCIES

15 May 2020 1 minute read 2 comments Digital Asset Thinker

Hello everybody Recently Publish0x had the super idea to diversify to possible wallet addresses for withdrawing cryptocurrencies. Here is my new video about an issue I had on Publish0x for setting the DAI cryptocurrency address wallet : the BAT , the...

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 14 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...