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Dai (DAI) is a decentralized stablecoin that maintains a 1:1 peg to the US Dollar, offering stability and security within the cryptocurrency ecosystem. Unlike traditional stablecoins, Dai is backed by a diversified pool of crypto collateral locked in smart contracts on the Ethereum blockchain, ensuring transparency and decentralization.
Dai was launched in 2017 by MakerDAO, a decentralized autonomous organization, as part of its mission to create a stable and trustless digital currency. Governed by a community of token holders, Dai is maintained through a system of smart contracts that dynamically adjust collateralization to ensure price stability. Dai has become a cornerstone of the DeFi ecosystem, widely used for lending, borrowing, and trading.
What is Dai (DAI)?
Dai is a decentralized stablecoin pegged to the US Dollar, backed by crypto assets locked in smart contracts to maintain its stability and transparency.
How do I buy Dai on Elbaite?
To purchase Dai, sign up for Elbaite, verify your identity, deposit AUD, and place a buy order for DAI quickly and securely.
What makes Dai different from other stablecoins?
Unlike centralized stablecoins, Dai is governed by MakerDAO, ensuring decentralization and transparency through its crypto-backed collateral system.
What is Dai used for?
Dai is widely used in decentralized finance (DeFi) for lending, borrowing, trading, and as a stable store of value.
Is Dai secure?
Yes, Dai’s value is maintained through an over-collateralized system of smart contracts, ensuring its stability and security.
Who governs Dai?
Dai is governed by MakerDAO, a decentralized autonomous organization where token holders vote on key protocol decisions.
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Elbaite Pty Ltd (ACN 623 185 875) operates a digital currency exchange registered with AUSTRAC. Please note that digital asset prices can be volatile. Elbaite does not provide digital wallets and we do not have access to your digital currency. We will never ask for the private keys to your digital currency wallet. Elbaite is not liable for any losses you may incur, and you are solely responsible for your investment decisions. Before deciding if our services are right for you, take into consideration your own financial situation & needs and/or obtain professional financial or taxation advice from a licensed provider. Elbaite does not provide financial advice and Elbaite does not have any affiliation with external traders, advisors or trading platforms.