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.
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For lending, when users borrow Dai against collateral that is locked (e.g. in ETH), the DAI is issued; and it is withdrawn from circulation when the loan is repaid and the guarantee is released.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.
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Alm Maye has been a trader and analyst since 2013. He is an expert on stock markets, forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of editorials on specialized sites such as Actions-boursieres.fr, as well as in the international network of Finixio.com.