Crypto Dai (DAI): Is It Replacing TerraUSD (UST) Stablecoin?





Dai is a stablecoin (or price stable cryptocurrency) backed by the US dollar – 1 DAI equals 1 USD. For decentralized financial (DeFi) investors, Dai helps reduce volatility and leverage many services such as lending, borrowing and trading.

DAI news as of 12/05

DAI briefly became the fourth-largest stablecoin by market capitalization on Wednesday after the collapse of Terra’s UST. The opportunity for some members of the crypto community to become a old tweet from Do Kwon the founder of Terra who indicated two months ago that the DAI, a 5-year-old stablecoin, was going to succumb to the rapid growth of the UST.

2 months ago, Do Kwon tweeted “by my hand, Dai will Dai”. Today he tweeted that UST will get collateral like Dai https://t.co/2bEygc41II

The evolution of the two assets in recent days in the market suggests the opposite, while according to Vitalik Buterin, founder of the Ethereum blockchain, the DAI, the Rai Reflex Index and the USD Coin are the only three stable coins “that we really have.” need “.

Dai price (DAI): what is the current price?

Here’s the Dai’s live course.

The essentials to know about the Dai

Creation of the DAI crypto

The MakerDAO organization was founded in 2014 by Rune Christensen, a Danish entrepreneur developing lending and saving technology and a stablecoin on the Ethereum blockchain. Dai and its associated smart contracts were officially released on the Ethereum network on December 18, 2017.

How does Dai work?

Dai is a stablecoin pegged to the US dollar. The value of DAI is stabilized by MakerDAO, the decentralized governance community. DAI tokens are created through the platform that accepts a variety of cryptocurrencies as collateral (ETH, WBTC, LINK…). DAI can also be purchased directly from most cryptocurrency exchanges using fiat currency.

For lending, when users borrow Dai against collateral that is locked (e.g. in ETH), the DAI is issued; and it is withdrawn from circulation when the loan is repaid and the guarantee is released.

Crypto DAI: Our Opinion and Forecast for 2022

  • Dai Mirror Mag Overall rating: 7/10

Dai Project reviews

Dai is always stable, which makes it a good cryptocurrency for transferring money.

Price Volatility Notice

The price of Dai remains stable at 1 dollar.

DAI medium term price forecast

The price of Dai remains stable at 1 dollar.

Long term DAI price forecast

Dai is a solid and decentralized system. It is a stablecoin considered reliable by some major financial institutions, including Societe Generale, which had offered MakerDAO a $20 million DAI loan in exchange for bond tokens.

Conclusion – should you invest in Dai crypto? Where and how to buy?

Conclusion of our Dai review

DAI stablecoins are a good cryptocurrency to stabilize your cryptocurrency holdings.

📈 Trade cryptos online in just a few clicks!

eToro allows you to easily trade cryptocurrency online. Creating an account is free and very easy.

68% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.

Almmaye
The latest articles from Almmaye (see all)





Leave a Comment