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ETH · 3w

Overview of DAI, wonderful stable-currency which's helping crypto-users to save $$ value from volatility

DAI is a decentralized stablecoin created via the Makers (MKR) Dai Stablecoin System. On 1st of October, Dai (DAI) was listed for trading on the Emirex exchange. 

Current available trading pair on the Emirex exchange: DAI/USDT, DAI/BTC

Dai is a decentralized stablecoin created by MakerDAO (MKR) equaling one US dollar (1:1 ratio) MakerDAO upgraded its system to include the DAI Savings Rate in which DAI holders can lock their DAI holdings into the MakerDAO’s Oasis app to earn interest. When a user decides to deposit DAI stablecoins into the Vault and withdraw the collateral, he is also required to pay an interest, or stability fee, to the network.

CryptoCurrency Profile

Token Standard - ERC-20 DAI Price - $1,01 USD DAI ROI - 1,04% Market Rank - #24 Market Cap - $940 174 517 USD 24 Hour Volume - $150 915 054 USD Circulating Supply - 933 226 126 DAI Total Supply - 933 226 152 DAI All Time High - $1,14 USD (Sep 18, 2020) All Time Low - $0,945505 USD (May 10, 2020)

About Project

MakerDAO is a smart contract platform based on the Ethereum blockchain. The task of the project, built on the principle of the Decentralized Autonomous Organization (DAO), is to create stability in the world of decentralized things. This stability is implemented through DAI, an ERC-20 standard token, which allows it to be used in all the most popular Ethereum wallets (Metamask, Mist, MEW, etc.). Using external market mechanisms and economic incentives, the Maker platform stabilizes the DAI value at 1 USD. It allows anyone to use its Ethereum funds to create Dai on the Maker platform. Once generated, Dai can be used just like any other cryptocurrency: it can be freely transferred to other people, used as payment for goods and services, or stored as long-term savings. It is important to note that Dai generation is also building the components required for a robust decentralized margin trading platform.

By blocking a certain amount of ETH in Maker...

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