What assets back the stablecoin Dai in the cryptocurrency market?

3 answers

• Nov 29, 2021 · 3 years ago
  Dai is a stablecoin that is backed by a variety of assets in the cryptocurrency market. These assets include cryptocurrencies such as Ethereum, as well as other digital assets that are held in smart contracts. The value of Dai is maintained by the MakerDAO system, which ensures that the collateral backing Dai is always greater than the amount of Dai in circulation. This collateralization ratio helps to guarantee the stability of Dai, as it provides a buffer against market fluctuations. In the event that the value of the collateral falls below a certain threshold, the MakerDAO system can liquidate the collateral to ensure that the value of Dai remains stable.
  666333
• Nov 29, 2021 · 3 years ago
  The stablecoin Dai is backed by a combination of cryptocurrencies and other digital assets. These assets are held in smart contracts on the Ethereum blockchain. The value of Dai is maintained through the use of a decentralized autonomous organization (DAO) called MakerDAO. The MakerDAO system ensures that the collateral backing Dai is always greater than the amount of Dai in circulation. This collateralization helps to stabilize the value of Dai, making it a reliable and predictable stablecoin in the cryptocurrency market.
  528176
• Nov 29, 2021 · 3 years ago
  Dai, the stablecoin in the cryptocurrency market, is backed by a variety of assets including cryptocurrencies and other digital assets. These assets are held in smart contracts on the Ethereum blockchain. The MakerDAO system, which governs the stability of Dai, ensures that the value of the collateral backing Dai is always greater than the amount of Dai in circulation. This ensures that Dai remains stable and maintains its peg to the US dollar. The MakerDAO system is a decentralized platform that allows users to generate Dai by depositing collateral and also provides mechanisms to maintain the stability of Dai in the market.
  632158