Learn what is Multi-Collateral Dai and how does Multi-Collateral Dai work
Multi-Collateral Dai clarity of purpose
Multi-Collateral Dai purpose and aspects
Multi-collateral DAI (DAI) is a cryptocurrency token and operates on the Ethereum platform. Multi-Collateral Dai, brings a lot of new and exciting features, such as support for new CDP collateral types and Dai Savings Rate.
DAI - A stablecoin is a cryptocurrency that is pegged to another stable asset.
Abstract
Popular digital assets such as Bitcoin (BTC) and Ether (ETH) are too volatile to be used as everyday currency. The value of a bitcoin often experiences large fluctuations, rising or falling by as much as 25% in a single day and occasionally rising over 300% in a month. . 1 The Dai Stablecoin is a collateral-backed cryptocurrency whose value is stable relative to the US Dollar. We believe that stable digital assets like Dai Stablecoin are essential to realizing the full potential of blockchain technology. Maker is a smart contract platform on Ethereum that backs and stabilizes the value of Dai through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. Maker enables anyone to leverage their Ethereum assets to generate Dai on the Maker Platform. Once generated, Dai can be used in the same manner as any other cryptocurrency: it can be freely sent to others, used as payments for goods and services, or held as long term savings. Importantly, the generation of Dai also creates the components needed for a robust decentralized margin trading platform.
Link to Roadmap: n/a
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