Stable coins are cryptocurrencies produced to keep their value constant to a currency value. DAI is a type of dollar-backed stablecoin on the Ethereum base launched by Maker in 2017. In this context, as DAI coin is dollar-backed, it constantly hovers around $ 1.
Stable coin market and DAI
Stable coin is a type of crypto money. However, cryptocurrencies are fragile and unstable units. Most stable coins are backed by gold, dollars, euros or any other global product. In this way, it is free from the fragility of other crypto coins. Stable Coin producing companies such as Maker, the producer of DAI, create a reserve of fixed value products. The indexed product against the released crypto currency is also clearly shown to the market. In this way, the value is fixed. Thanks to the stable coins used as a trading unit, both sides know exactly how much they will pay and have the opportunity to invest independently from volatile markets.
They stand out with the fact that stable coins are trend values today, thanks to their structure that is far from fragility and change. They are also preferred because of their transparent and easy control. With the increasing supply of stable coin markets, DAI's transaction fees are also increasing. Thanks to this increase, it becomes easier for DAI to maintain its stable value in a healthy way. DAI, which has become an increasingly popular product thanks to MakerDAO applications and interest rates of Maker, which is the driver company of the market, is one of the crypto coins frequently preferred by the operators who want transparency.
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