Review on Single Collateral DAI by Rahym Gylyclyyew
The DAI Maker project is a key part of the DAO ecosystem.
The DAI platform is a cryptocurrency that is stabilized at the value of the US dollar. DAI is a decentralized platform running on the Ethereum blockchain, i.e. this DAI project was created by the Stablecoin system. To discuss this project, I would like to say that it is an ERC20 token in the Ethereum blockchain, which is a constant value of one US dollar.
The project is an algorithmically stable coin provided by Maker DAO, mainly used as a way to lend and buy crypto resources at this stage, and also directly frames it with insignificant restrictions.
Another feature is that the project is mainly used as a force against the volatility of major digital currencies such as Ethereum or Bitcoin. The consistent value of this project means that it is beneficial for those financial backers who accept that the market will collapse. For this reason, they are transferring their cryptocurrencies to the project and guaranteeing that the digital currency they exchange with their restorations will remain stable until they are worth it. This project is mainly a reliable system.
Pros
- It is used as a strength against the volatility of major digital currencies such as Ethereum or Bitcoin.
- This project is a decentralized platform.
Cons
- I didn’t meet the negative side.
