What is Dai (DAI)? Dai is the first stablecoin of the MakerDAO platform and its price is pegged to the US dollar rate. Being a stablecoin, DAI can be used as a tool for reliable storage of funds and for interuser payments. DAI stability is ensured not only by pegging to the dollar, it works on the CDPs and smart contracts technology. Dai developers offered their own innovative concept of exchange. The concept is based on the principle of collateral: a user freezes the required amount in Ethereum, and, depending on its volume, a smart contract issues new Dai tokens. Once all operations are completed, coins can be transferred back to ETH. At the same time, Dai tokens are being burned, which makes the maximum volume of emissions dynamic and relevant to user needs. DAI is a reliable source of stability in the face of volatility. It is a cryptocurrency that automatically reacts to emergent market conditions in order to stabilize its value against the major world currencies.
It is known that the first management meeting was held on January 16, 2016. Initially, the team was small, but now the number of people involved in the DAI project has reached the number of 33 people. Dai officially entered into circulation on December 18, 2017 as the first absolutely decentralized token on Ethereum. Since DAI itself is a project created on MakerDAO, its development team is the same: Rune Christensen is the project CEO and the founder of MakerDAO, Matt Richards - Project President, Soren Peter Nielsen is at the head of the development.
Let’s say you want to buy DAI. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy DAI.