What is Dai? (DAI crypto stablecoin) Ada ledger nano s

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What is Dai? Dai is a stablecoin which means it’s pegged to the value of a fiat currency, one Dai equals one dollar.

Since Dai is stable it a perfect asset to use for lending and borrowing and the bonus is, if you do use it for lending, you’ll earn compounding interest and a much great rate than the traditional format of saving.

Dai is completely decentralized and its stability is sustained by smart contracts that balance the reserve requirements. Basically more or less collateral being put in or taken out of the system in order to maintain the Dai price.

This is an incredibly complex system that has evolved quickly to allow familiar and traditional finance tools to come to crypto. Dai can be exchanged inside of Exodus desktop or mobile to start you on the path of earning high yielding interest on your crypto.

Want to learn more about DeFi products like DAI and Maker? Our comprehensive guide gives an in-depth look at this emerging industry: https://exodus.io/blog/what-is-defi/

Download Exodus wallet for Mobile and Desktop here ???? https://www.exodus.io/download/

Exodus was created for visionaries looking to depart the traditional financial system.

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Information provided is for informational purposes only and should not be considered financial advice. Investing in crypto assets is speculative and carries a high degree of risk; you may lose some or all of the money that is invested. Past performance is not indicative of future results.
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Crypto Wallets
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ada ledger nano s
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