Dai Stablecoin

[ulhaq]

Came across this purported stablecoin Dai:
https://makerdao.com/whitepaper/DaiDec17WP.pdf

Only, like others, I do not see how it is sustainable or a good idea.

Ether (and other cryptocurrencies in the future) is locked into a smart contract and held as collateral. However, if the value of ether plummets, then there will not be enough collateral to cover the 1.00 USD price of Dai. They describe 2 other mechanisms to stabilize the price, but in a falling market, none of them will be sufficient.

The Bank of England learned in 1992, the hard way, that their peg could not be maintained. Why do these crypto companies think that they can achieve it?

[1714133413]

1714133413

[jjbanks994]

Not the biggest fan of maker. You should read this article about stablecoins: https://www.forbes.com/sites/shermanlee/2018/03/12/explaining-stable-coins-the-holy-grail-of-crytpocurrency/#16a8a1c04fc6

My personal favorite is Havven. https://havven.io/

[cointopper]

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[CryptoCoin101]

The Bank of England learned in 1992, the hard way, that their peg could not be maintained. Why do these crypto companies think that they can achieve it?

Quick link: https://en.wikipedia.org/wiki/Black_Wednesday

[Bytem3]

MakerDAO just got a $15 Million investment from a crypto fund:

https://coincodex.com/article/2390/makerdao-receives-15-million-investment-from-a16z-crypto-fund/

[Wibizza]

The Dai Stablecoin is set at the value of one US Dollar, built on Ethereum and developed by MakerDao team, can be created through depositing Ether into contract-smart and therefore always fully guaranteed. The requirements for stablecoin that allow low risk arbitration between different cryptocurrency exchanges.

[dreamax25]

Dai got listed on Coinbase Pro.

https://coincodex.com/article/2775/coinbase-pro-lists-mkr-zil-dai-and-gnt/

[Dinmazsae]

Dai is a hard currency supported by assets for the 21st century. Stablecoin was first decentralized on Ethereum blockchain.
Dai is a reliable source of stability in the face of volatility. Every Dai is backed by collateral at any time, so you don't have to worry about value going up or down.
Dai stands to change the financial industry by creating a stable and decentralized currency that will enable businesses to realize the future of money.

[CoinCodex]

MakerDAO increased the stability fee to a staggering 19.5% in an attempt to fulfill DAI's role as a dollar-pegged stablecoin.

https://coincodex.com/article/3543/makerdao-increases-stability-fee-to-195-in-effort-to-bring-dai-to-its-fiat-peg/

[glendall]

I have read the DAI actually an old project, even before crypto appeared,
but after crypto appeared DAI began to become part of crypto and became a stable coin,
but how about DAI is one stable coin that uses source eth.

[igorttomic]

DAI Token Integrated For Tipping on Publish0x: https://www.publish0x.com/publish0x-official-blog/dai-token-integrated-for-tipping-on-publish0x-xryydn

[deebawriter]

DAI news is published by btcmanager   https://btcmanager.com/swandai-hedging-dai

[Ilaya]

(DAI) is a USD-pegged stablecoin based on the Ethereum blockchain, and has no brought together expert. Its $1 USD proportionate is kept up through programmed evaluating components incorporated with brilliant contracts. At the point when Dai is worth more than $1, the savvy contract evaluating instruments attempts to diminish the cost. On the other hand, when Dai is worth beneath $1, the brilliant contract valuing components attempts to expand the cost. Dai can be unreservedly exchanged like some other ERC20 token, and anybody with an Ethereum wallet can possess, acknowledge, and move it without a broker.

[SiverSurfer]

(DAI) is a USD-pegged stablecoin based on the Ethereum blockchain, and has no brought together expert. Its $1 USD proportionate is kept up through programmed evaluating components incorporated with brilliant contracts. At the point when Dai is worth more than $1, the savvy contract evaluating instruments attempts to diminish the cost. On the other hand, when Dai is worth beneath $1, the brilliant contract valuing components attempts to expand the cost. Dai can be unreservedly exchanged like some other ERC20 token, and anybody with an Ethereum wallet can possess, acknowledge, and move it without a broker.

The minimum ratio is 150%, so for every 1 DAI I get, I have to put in a minimum of 1.5 USD worth of ETH, and much likely more (say 1:3 USD so that unless ETH falls 50% my position is protected). I don't want to get liquidated because anything 1.499999 will have your ETH liquidated to protect the peg, and you will be charged 13% as the liquidation penalty.

What I don't understand is the stability fees of 12.5% per annum, I do not know what this is for, and how we are charged.

[mich]

AirSwap Offers Up to $20,000 For Its Bug Bounty

Ethereum (ETH) decentralized exchange protocol AirSwap announced that it is running a  bug bounty program with rewards up to 20,000 DAI (worth $20,000). It begins now and continues indefinitely.

https://cointelegraph.com/news/airswap-offers-up-to-20-000-for-its-bug-bounty

[tonyvo2017]

Came across this purported stablecoin Dai:
https://makerdao.com/whitepaper/DaiDec17WP.pdf

Only, like others, I do not see how it is sustainable or a good idea.

Ether (and other cryptocurrencies in the future) is locked into a smart contract and held as collateral. However, if the value of ether plummets, then there will not be enough collateral to cover the 1.00 USD price of Dai. They describe 2 other mechanisms to stabilize the price, but in a falling market, none of them will be sufficient.

The Bank of England learned in 1992, the hard way, that their peg could not be maintained. Why do these crypto companies think that they can achieve it?

Although you feel quite similar to other stablecoins, DAI is really making a difference. The first thing is that the transaction fee is very cheap and this is one of the things that users love when using DAI and trading it. Besides, it is being used to allocate money to bloggers in Steemit. it works great and it also has an ICO policy for the projects they support. Investors can pay back at any time and only need to pay a fee of about 16%. You can read it on the DAI main page.

[mich]

OKEx Debuts Dai Stablecoin Staking Bonus as Tether Dwarfs Volumes

Malta-based cryptocurrency exchange OKEx has added support for a new feature that allows users of stablecoin Dai (DAI) to earn interest by staking their holdings.

https://cointelegraph.com/news/okex-debuts-dai-stablecoin-staking-bonus-as-tether-dwarfs-volumes

[mich]

REINNO unleashes interest-earning Dai accounts

Connecticut-based FinTech REINNO has partnered with MakerDAO and integrated its protocol to offer investors the opportunity to earn fixed interest on Dai stablecoin.

https://ibsintelligence.com/ibs-journal/ibs-news/reinno-unleashes-interest-earning-dai-accounts/

[coinary]

DAI is really a good alternative to USDT. However, DAI requires to finish the migration from SAI to be more stable in integration with third-party services

[Duncan.Idaho]

UNO is really a good alternative to USDT.

Runs on SHA256.

Backed by fact of time past, not unproven.