Review on Dai by Vincent Royce Ampong
Stable coin
This Dai token is an initial project product created for a transparent and decentralized crypto-economy. The Dai token is the brainchild of the DAO Maker crypto project. A team of several developers created the token 3 years ago. I really like this token, though lately the price went down so bad. I hope the market will recover soon. DAI coins are available for creation and redemption directly by platform users. To create a DAI, you must have a collateral position on the special address of the smart contract. Thus, the user creates a coin. In order to pay off the debt and return the Deposit, the user will simply have to return back DAI and pay a Commission in MKR, which is 0.5% per annum.
Pros
- Great token, nice white paper
Cons
- Volatile
