Dai Stablecoin (DAI)
Dai (DAI) is a stablecoin pegged to the value of one U.S. Dollar, built on Ethereum and developed by the MakerDao team. DAI can be created by depositing Ether into a smart contract, and therefore is always fully collateralised.
At present, the requirements for a stablecoin allowing low-risk arbitrage between different cryptocurrency exchanges and price-hedging by traders is primarily met by USDTether - a centrally issued alternative collateralised by U.S. Dollars, held in a bank account. DAI instead removes this centralised risk point and is slowly becoming popular in the Ethereum community, particularly on decentralised exchanges, as a primary trading pair.
Resources
rhino.fi Ticker: DAI
Website
Twitter
Reddit
Ethereum Contract
Dai (DAI) is a stablecoin pegged to the value of one U.S. Dollar, built on Ethereum and developed by the MakerDao team. DAI can be created by depositing Ether into a smart contract, and therefore is always fully collateralised.
At present, the requirements for a stablecoin allowing low-risk arbitrage between different cryptocurrency exchanges and price-hedging by traders is primarily met by USDTether - a centrally issued alternative collateralised by U.S. Dollars, held in a bank account. DAI instead removes this centralised risk point and is slowly becoming popular in the Ethereum community, particularly on decentralised exchanges, as a primary trading pair.
Resources
rhino.fi Ticker: DAI
Website
Ethereum Contract
Updated on: 14 / 07 / 2022