DAI Stablecoin Now Available on Cryptal
We have now added support for MakerDAO’s DAI Stablecoin on Cryptal. Buying and selling DAI can be done with USD, GEL, and BTC.
Dai was the first stablecoin to be issued on the Ethereum blockchain in 2017. It is managed by the MakerDAO foundation, which maintains and regulates it but does not determine its value. Rather, it is “soft-pegged” to the US Dollar, meaning that it is a truly decentralized asset. Its price is determined by the market through collateralized smart contracts, which allows new DAI tokens to be issued through loans.
Adoption and market growth of DeFi has reached astonishing heights this year, boosting the demand for a true DeFi stable coin. DAI as a fully decentralized digital stable currency has earned high praise in the industry, making it a strong competitor to the more traditional stable coins, such as USDT or USDC.