Dai (cryptocurrency)

Dai (cryptocurrency)

Dai is a type of cryptocurrency known as a stablecoin.

Dai is a type of cryptocurrency known as a stablecoin developed by MakerDAO. Dai is a collateral-backed cryptocurrency with the value worth $1 USD. Dai achieves price stability by being backed by a diversified portfolio of other assets of value. MakerDAO is transparent about their collateral backing Dai, and anyone can view information about the locked collateral backing Dai through the companies website, as well as its safety profile.

The Dai cryptocurrency offers a stable store of value within the cryptocurrency marketplace, and also can be used for purchases of other cryptocurrencies or merchants accepting cryptocurrencies at the point of sale. Businesses can use Dai to make loans that have low volatility, are stable, and predictable. Dai also allows business to reduces costs of fees associated with their supply chains and international trades due to low fees associated with using the Dai cryptocurrency.

Timeline

December 18, 2017

Dai becomes the first live cryptocurrency stablecoin

Dai launches on the Ethereum mainnet.

People

Name
Role
LinkedIn

Andy Milenius

Matt Richards

Nikolai Mushegian

Rune Christensen

Soren Peter Nielsen

Further reading

Title
Author
Link
Type
Date

The Dai Stablecoin is a Game Changer for Ethereum and the Entire Cryptocurrency Ecosystem

James Seibel

News

The Dai Stablecoin System

Maker team

Academic paper

https://makerdao.com/whitepaper/DaiDec17WP.pdf

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title0
Author0
Date0
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Jon Evans
February 19, 2020
TechCrunch
Over the last year or so, much-to-most of the cryptocurrency world has pivoted from the failure of "fat tokens" and ICOs, and the faltering growth of "Layer 2" payments like Lightning and the late Plasma Network, to the new hotness known as "DeFi," which this week was used to ... hack? acquire? steal? It's pretty [...]
Tom Wilson
November 18, 2019
U.S.
Some are backed by dollars. Others by gold. But this "stablecoin" isn't tied to any major asset - it's backed by another cryptocurrency.
Connie Chen
September 24, 2019
Business Insider
New women's workwear startup Dai combines sleek, stylish silhouettes with properties of activewear -- stretchy, breathable, wrinkle-resistant, and machine-washable.
Nicole Jao
December 20, 2018
TechNode
News of ofo CEO Dai Wei's appearance on the blacklist marks another stage in the company's downward spiral.
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