Dai DAI

$1.02
Market Cap $ 55.165 MM (#62)
24h Volume $ 3.948 MM
Chg. 24h: -0.34%
Algo. score 3.7/5  (#131)
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Dai project purpose and description

Dai clarity of purpose

Dai purpose and aspects

Popular​​ digital ​​assets ​​such ​​as ​​Bitcoin​​ (BTC)​​ and​​ Ether ​​(ETH) ​​are ​​too​​ volatile ​​to​​ be ​​used​​ as everyday ​​currency.​​ The​​ value ​​of ​​a​​ bit coin ​​often​​ experiences ​​large​​ fluctuations, ​​rising​​ or falling ​​by ​​as ​​much​​ as ​​25% ​​in​​ a​​ single​​ day ​​and ​​occasionally​​ rising​​ over​​ 300% ​​in​​ a ​​month.. 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 d​ynamic​​ 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.

Dai additional differentiation against competition

The ​​Dai​​ Stablecoin​​ System​​ was​​ designed​​ to ​​solve​​ the ​​crucial​​ problem​​ of​​ stable​​ exchange​​ of value ​​in ​​the ​​Ethereum​​ ecosystem​​ and​​ the​​ wider​​ blockchain ​​economy.​​ We ​​believe​​ that​​ the mechanism​​ through​​ which​​ Dai​​ is​​ created, ​​transacted,​​ and ​​retired, ​​along​​ with​​ the ​​direct ​​Risk Management ​​role ​​of​​ MKR ​​holders, ​​will ​​allow ​​for​​ self-interested​​ Keepers ​​to ​​maintain​​ the​​ price stability ​​of​​ Dai​​ over​​ time ​​in ​​an ​​efficient ​​manner.

Dai categories

PlatformDecentralized banking

Short description

Dai is a cryptocurrency that automatically reacts to emergent market conditions in order to stabilize its value against the major world currencies. Dai is created by the Dai Stablecoin System, a decentralized platform that runs on the Ethereum blockchain.

Abstract

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: https://makerdao.com/pipeline-overview/
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