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

Dai is a stablecoin (or price stable cryptocurrency) supported 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 per. 12/05

DAI briefly became the fourth largest stablecoin at market value on Wednesday after the collapse of Terra’s UST. The possibility for some members of the crypto community to remember one old tweet from Do Kwon, the founder of Terra, who indicated two months ago that DAI, a 5-year-old stablecoin, would succumb to the rapid growth of UST.

2 months ago Do Kwon tweeted “by my hand, Dai will Dai”. Today he tweeted that UST will be provided as security, just like Dai

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

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

Here is the live performance of Dai.

The most important thing to know about Dai

Creating the DAI Crypto

The MakerDAO organization was founded in 2014 by Rune Christensen, a Danish entrepreneur for the development of technology for loans and savings, and a stack coin 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 linked to the US dollar. The value of DAI is stabilized by MakerDAO, its decentralized management community. DAI tokens are created through its platform, which accepts a variety of cryptocurrencies as security (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), DAI is issued; and it is taken out of 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, making it a good cryptocurrency to transfer money to.

Price volatility announcement

The price of Dai remains stable at $ 1.

Medium Term DAI Price Prediction

The price of Dai remains stable at $ 1.

Long-term DAI price forecast

Dai is a solid and decentralized system. It is a stablecoin that is considered reliable by some major financial institutions, including Societe Generale, which had offered MakerDAO a $ 20 million DAI loan in exchange for the bond token.

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

Conclusion on our Dai review

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

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