DAI

What is DAI & How Does It Work?

DAI is a decentralized cryptocurrency that aspires to keep its value relative to the US dollar at 1 to 1. Therefore, 1 DAI must equal 1 USD. DAI is so classified as a "stablecoin." The value remains steady, protecting you from the regular, significant price swings that other cryptocurrencies frequently experience.

DAI does not need to pass through intermediaries like banks or other centralized organizations to be stored or transferred to anyone, anywhere in the globe. It is typical to utilize DAI to hedge against market swings because the cryptocurrency market can be erratic. Decentralized loan and interest-bearing fund services also frequently employ DAI.