Review on Dai by Tosin Temitope
DAI A DECENTRALISED STABLE COIN THAT CAN BE TRADE FREELY.
The project was established in 2013, in Switzerland. It is based on Ethereum Blockhain. Though not regulated, this ERC20 based coin is really doing well in crypto world. One of the things that interest me most is that you can earn interest on DAI.
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It also worth mentioning that, the asset is backed by crypto collateral. it created to be a stable coin, which me that one DAI will be equal to one dollar.
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Personally i love making good use of the asset especially during the volatile market period, also using it to make transaction knowing fully well that the price will remain stable.
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This crypto collateral asset, is supported by many crypto exchange, though in my opinion i will like the team behind the exchange can still work on making the asset available on more crypto exchange, and also being paired with more digital asset.
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You can use any Ethereum based wallet to store the asset which includes most save wallet, hardware wallet and hot wallet.
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Personally, i find a lot of advantages using and holding the asset which makes me concluded that the project is a good project. I really recommended it.
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Pros
- It ranke 26 in market cap
- This digital asset based on USD, which makes it to be stable coin
- Supported by some exchange, over fourteen crypto exchange
- It supports hardware wallet and hot wallet
- It based on Ethereum blockchain
- It has a solid team
- It value is not control by Government or individual
- No middleman needed to pass the transaction
- Having Ethereum wallet makes the transaction possible all over the world
Cons
- The team behind the project can work on pairing the asset with many digital asset in exchanges and work on how many exchange well known exchange can support it
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Comments (1)
November 12, 2020
This project is a good project with a lot of amazing features. In fact it among the best crypto project in my own opinion. I love the transparency of the team behind the project. It is the digital asset that i invested on.
