Crypto Dai (DAI): Will it replace stablecoin TerraUSD (UST)?

Dai is a stablecoin (or price stable cryptocurrency) backed by the US dollar – 1 DAI equals 1 USD. For decentralized finance (DeFi) investors, Dai helps reduce volatility and leverage many services such as lending, borrowing, and trading.

DAI news as of 12/05

DAI briefly became the fourth-largest stablecoin by market capitalization on Wednesday following the collapse of Terra’s UST. The opportunity for some members of the crypto community to recall a ancient tweet from Do Kwon the founder of Terra who indicated two months ago that the DAI, a 5-year-old stablecoin was going to succumb to the rapid growth of the UST.

2 months ago Do Kwon tweeted “by my hand, Dai will Dai”. Today he tweeted that UST will become collateralized, like Dai

The evolution of the two assets in recent days on the market suggests the opposite while according to Vitalik Buterin, founder of the Ethereum blockchain, the DAI, the Rai Reflex Index and the USD Coin are the only three stable coins “of which we have really need “.

Dai price (DAI): what is the current price?

Here is the live course of the Dai.

The essentials to know about the Dai

Creation of the DAI crypto

The MakerDAO organization was founded in 2014 by Rune Christensen, a Danish entrepreneur for the development of technology for borrowing and saving, and a stablecoin on the Ethereum blockchain. Dai and its accompanying smart contracts were officially released on the Ethereum network on December 18, 2017.

How does Dai work?

Dai is a stablecoin that is pegged to the US dollar. The value of DAI is stabilized by MakerDAO, its decentralized governance community. DAI tokens are created through its platform which accepts a variety of cryptocurrencies as collateral (ETH, WBTC, LINK…). DAI can also be purchased directly from most cryptocurrency exchanges using fiat currency.

For lending, when users borrow Dai against collateral that will be locked (in ETH for example), the DAI is issued; and it is withdrawn from circulation when the loan is repaid and the guarantee is released.

Crypto DAI: our opinion and prediction for 2022

  • Dai Mirror Mag Global Rating: 7/10

Dai Project Reviews

Dai is always stable, which makes it a good cryptocurrency for transferring funds.

Price Volatility Notice

The price of Dai remains stable at 1 dollar.

Medium Term DAI Price Prediction

The price of Dai remains stable at 1 dollar.

Long Term DAI Price Prediction

Dai is a solid and decentralized system. It is a stablecoin deemed reliable by some major financial institutions including Societe Generale who had offered MakerDAO a $20 million DAI loan in exchange for bond tokens.

Conclusion – should you invest in Dai crypto? Where and how to buy it?

Conclusion of our Dai review

DAI stablecoins are a good cryptocurrency to stabilize your cryptocurrency holdings.

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