Dai coin is a decentralized, autonomous, stablecoin that uses the Ethereum blockchain to maintain its value. Dai coin is intended to provide a more stable alternative to other cryptocurrencies that are prone to large price fluctuations. Dai’s stability is maintained by keeping its supply in line with the demand for it, and by using collateralized debt positions (CDPs) to enforce price stability. Dai is also unique in that it is the first stablecoin that can be used as collateral on the Ethereum blockchain. This allows users to borrow DAI against other assets they hold on the blockchain, which then allows them to take advantage of DAI’s stability without needing to sell their assets.
Dai Logo – PNG and SVG Download
How to buy Dai?
Dai is a cryptocurrency that is pegged to the US dollar. This means that 1 Dai equals 1 US dollar and the value of Dai fluctuates based on the value of the US dollar. You can buy Dai from a number of exchanges, including Coinbase, Binance, and Kraken. To buy Dai, you first need to set up a wallet that supports ERC-20 tokens. MyEtherWallet is a popular option. Once you have set up your wallet, go to an exchange that supports Dai trading and create an account. Once you have funded your account with USD or another supported currency, you can then trade for Dai.
How to stake Dai?
In order to stake Dai tokens, you will need a wallet that allows you to stake. You can use the official MakerDAO staking wallet or any other wallet that supports the protocol. To stake your Dai tokens, simply send them to the staking address of your chosen wallet. The amount of time you will have to hold your Dai in order to earn rewards will depend on the staking protocol of your chosen wallet. For example, with the MakerDAO staking wallet, you must lock your Dai in for at least 7 days in order to earn rewards.
