-
Bitcoin $101,898.5005
-0.75% - Ethereum
$2,258.1125
-1.07% - Tether USDt
$1.0004
0.01% - XRP
$2.0178
-2.93% - BNB
$624.0243
-1.53% - Solana
$134.3298
-0.90% - USDC
$0.9999
0.01% - TRON
$0.2675
-2.05% - Dogecoin
$0.1538
-1.96% - Cardano
$0.5482
-1.11% - Hyperliquid
$35.5636
5.45% - Bitcoin Cash
$453.4902
-1.66% - Sui
$2.5134
-2.97% - UNUS SED LEO
$9.1292
1.77% - Chainlink
$11.8457
-1.60% - Stellar
$0.2312
-2.73% - Avalanche
$16.9721
0.29% - Toncoin
$2.7549
-3.82% - Shiba Inu
$0.0...01081
-1.10% - Litecoin
$80.8250
-0.71% - Hedera
$0.1374
0.21% - Monero
$305.4827
-2.36% - Ethena USDe
$1.0006
0.00% - Dai
$1.0000
-0.01% - Polkadot
$3.2085
-3.12% - Bitget Token
$4.0845
-3.13% - Uniswap
$6.3353
-1.63% - Pi
$0.5085
-0.70% - Pepe
$0.0...08913
-3.82% - Aave
$232.7090
-0.58%
What is Dai? What can Dai do? How to store Dai?
Dai's decentralized nature, Ethereum-based technology, and price stability make it a versatile tool for value storage, collateralization, and cryptocurrency transactions.
Oct 13, 2024 at 08:23 am
What is Dai?
Dai is a decentralized stablecoin that maintains a value of $1 USD. It is an ERC-20 token on the Ethereum blockchain. Dai is backed by a decentralized network of smart contracts known as the Maker Protocol.
What can Dai do?
- Stablecoin: Dai is designed to provide a price-stable option for holding value. It aims to provide a secure way to hold funds and avoid price volatility.
- Collateral for lending: Dai can be used as collateral to borrow other assets on decentralized lending platforms. This allows users to leverage their Dai to access liquidity without having to sell.
- Medium of exchange: Dai can be used as a payment method in various applications that support cryptocurrencies.
How to store Dai?
Dai can be stored in any Ethereum-compatible cryptocurrency wallet or on centralized exchanges. Here are some popular options:
- Hardware wallets: Ledger Nano X, Trezor Model T
- Custodial wallets: Coinbase, Binance
- Non-custodial wallets: MetaMask, MyEtherWallet, Trust Wallet
- DEXs: Uniswap, Curve
- CeFi platforms: BlockFi, Celsius
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