What is DAI
¿What is DAI?
DAI is an ERC-20 token whose objective is to run as a stable currency for which its value is pegged to the US dollar, publicly launched on December 18, 2017
Developed by Maker Foundation.
DAI is distributed in a decentralized manner due to the collateralization of guarantees that work to ensure its issuance at any time.
Its beginnings begin with the development of MakerDAO in 2014.
It was then that the idea hinted at the birth of a DAO in order to maintain a stablecoin on top of Ethereum.
¿What does it offer?
This token offers to hold its value as similar as possible to the US dollar, through an automated system of smart contracts on the Ethereum blockchain.
¿How does it work?
DAI works under the Maker protocol.
All the commitment to maintain the firmness of the reserves that support this token with a 1:1 value with respect to the value of the dollar, as well as the verification of stable currency emissions
The Maker protocol is the most important part, however its operation is supported by the Maker Vaults, these give access to communication with the Maker protocol, granting the function of creating DAI by depositing assets on them.
¿How is it regulated?
DAI is regulated by MakerDAO, a decentralized autonomous organization.
¿Why do people use DAI?
People use DAI because it is financially independent, yet has convenient, fast, low-cost remittances, is completely stable through volatility, and ultimately has full-time service.
¿How is DAI different from other tokens?
Unlike other stablecoins DAI is decentralized, it also fulfills the role of replacing in a certain way the purchase of USD.
It does not need any financial entity, any user can be issued by leaving other currencies blocked in vaults of smart contracts of the protocol.
¿Where can i buy it?
One of the ways where you can buy DAI is through Binance, as it has a large variety tradable in commerce, you can exchange a cryptocurrency, fiat cryptocurrencies or simply use a debit or credit card to buy the stablecoin, deposits are also allowed banking.
https://www.binance.com/
¿Where to find more information?
For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/
¿Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?
