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Abuja
1 Level
443 Review
750.75 Karma

Review on Dai by Amos joseph

Revainrating 4 out of 5

DAI

One important aspect I love in the crypto space is the introduction of stable coin which has improve and stabilize price regulation in the crypto community.
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Dai is a stable coin base on ethereum network an ERC20 token which is ratio 1:1 with normal USD one dai is equivalent to one USD.
due to high market liquidity in crypto currency the use of stable coin is to help prevent the loss of users crypto asset.
this in turn is not only of advantage to traders but also investors can use this ample opportunity to control and maintain a stable crypto asset.
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Dai support fast transaction being an ethereum base token makes it much easier to be listed and traded on multiple exchange platform compatible on multiple wallet for convenient storage.

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Pros
  • Stable coin peg 1:1 with USD introduced to stabilize crypto market liquidity
  • Recommended token for traders and investors for storing crypto asset
  • Traded on multiple exchange compatible with multiple wallet for storage
  • An ERC20 token support fast transaction
Cons
  • There are multiple stable coin in competition

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