Review on Dai by Olugbenga Ajayi
Dai, a stblecoin with difference
Stability is key and central toCentral to good financial investment. Many crypto currency project lack this and has suffered rejection as a result. Dai is a decentralized stablecoin created by Maker Dai(MKR) in line with their mission to come up with a coin that is very stable.
Dai is pegged to 1:1 USD and will remain so forever. This because by nature it is designed to shift with every slight changes in crypto market, hence maintain a steady store of value. It also heavily rely on the Maker platform and other stabilization mechanisms.
Dai is created as a loan to be assessed by ethereum holders. In other to use Dai, use must collateralize his ETh for Dai using collateralized debt position (CDP).
I really love stablecoins like this because their values remain regular. Before now I use tether(usdt) a lot but henceforth, I will surely use more of Dai.
Pros
- It does not require any middle man to exchange
- No centralized body or government can control it
- It is available for exchange in several exchanges
- It has a stable store if value
- It can seamlessly exchange with ethereum erc-20 tokens
- It is very liquid in the market
Cons
- No negative comment
