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Let's reverse. Don't complain but spit solutions. Today's subject: Stable coins

USDT, USDC and DAI are trash and you should be careful holding them

Crypto Bridges

USDT is the preferred stablecoin for Brazilians, accounting for $9.7 billion acquired between Jan and Nov 2021. Other stablecoins bought included $1.6 billion in USDC, $12.9 million in DAI, and $5.6 million in TrueUSD - Any Brazilians here please spread the word to avoid USDT

Anyone have any ideas what had huge amounts of DAI moving about 1 month ago?

r/CryptoMoonShotsSee Post

Hermes Defi - Safe, Transparent, and Fast

r/CryptoCurrencySee Post

Which stable coin is the most secure?

25 BTC were traded last week in Venezuela using LocalBitcoin! Other exchanges are Binance (king), AirTM, Reserve and others. Still, MONTHLY minimum wage sits around 2 USD.

r/CryptoCurrencySee Post

Noob here: What's the minimum to start trading?

r/CryptoMarketsSee Post

gTrade and Gains Network's GNS Token: Value Proposition

Why take on risk for less than 7% return?

Worst case scenario for LP staking

r/CryptoCurrencySee Post

Most Trustworthy Stablecoins?

r/CryptoCurrencySee Post

How to protect yourself against downside risk in a bearish period: Underwriting option contracts

r/CryptoMoonShotsSee Post

Gains Network, possibly the best Decentralized Leverage platform, direct competition to dYdX, PERP and GMX

r/CryptoCurrencySee Post

Terra, Abracadabra Stablecoins "Are Going to Zero": Maker Founder

r/CryptoCurrencySee Post

What to do with like ~90 bucks of DAI on a hard wallet?

r/CryptoMarketsSee Post

Fantohm DAO - New Website and Roadmap Released

r/CryptoCurrencySee Post

Infinity Revenue, Infinity Possibilities!

r/CryptoCurrencySee Post

how do you guys personally manage your investments?

r/CryptoMarketsSee Post

The Economics Design of AMPL Token

r/CryptoCurrencySee Post

High Defi Yields Now On Avalanche - 17% on USDC via BenQi, 19% on DAI via Blizz Finance & MarginSwap

r/CryptoCurrencySee Post

UST is the new "safe" stablecoin out there

r/CryptoCurrencySee Post

Best stable coin to lock up money in

r/CryptoCurrencySee Post

Honest question: why are APR/APY% that high on Tezos for farming using Stable/BTC/ETH/XTZ ?

r/CryptoCurrencySee Post

Controversial Viewpoint: Terra's Defi is Slowly Dying

r/CryptoCurrencySee Post

A rookie mistake than I want to correct

r/CryptoCurrencySee Post

How Yield Farming on Curve Finance Is Quietly Conquering DeFi

r/CryptoCurrencySee Post

Pooltogether experiences ?

r/CryptoCurrencySee Post

YSK: UST & DAI are backed by trust dependent collateral that contracts during volatility/uncertainty. A mix of TDC with utility driven collateral where the latter is increased through market forces to create a self balancing mechanism that ensures backing is the key innovation Vader Protocol brings

r/CryptoCurrencySee Post

The $SOS airdrop. Be smart and alert.

r/CryptoCurrencySee Post

My top predictions for 2023

r/CryptoMarketsSee Post

Basic Primer to Token Design of DAI (MakerDAO) | The OG Stablecoin

r/CryptoCurrencySee Post

Moving tokens with collateral from MetaMask to Ledger

r/CryptoCurrencySee Post

Tether Insurance with ~30% APY on USDc principal

r/CryptoCurrencySee Post

Is it wise for me to invest in stable coins In this current climate?

r/CryptoCurrencySee Post

WARNING; Terra (LUNA) stablecoins are not backed by anything. Literally nothing. This is worse than USDT.

r/CryptoMoonShotsSee Post

🌎 $ Banksy| 🚀Next x100 |💎Pre CMC & CG | Great community | NFTs | Token Longevity | Amazing Dev | 💰 Innovative marketing strategy | 💰 Charity | 🎁 Rewards

r/CryptoCurrencySee Post

Can someone explain the difference between UST and single collateral DAI?

r/CryptoCurrencySee Post

Grim Finance Becomes Latest DeFi Exploit After $30M Hack

r/CryptoCurrencySee Post

Educate me: How is LUNA and UST not a long drawn-out PONZI scheme?

r/CryptoCurrencySee Post

Terra's UST Flips DAI to Become Fourth-Largest Stablecoin

r/CryptoCurrencySee Post

I think we need to accept that for crypto to become mainstream and used in everyday spending banks and other organization are going to be involved

r/CryptoMarketsSee Post

DeFi101: ELI5 DeFi and Crypto Terms

r/CryptoCurrencySee Post

Eliminating Irrational Token Allocation and Creating True Unit of Account with SORA

r/CryptoCurrencySee Post

The cheapest way to start using UST, aka the BEST Stable Coin

r/CryptoCurrencySee Post

Blockchain version of kickstarter

r/CryptoCurrencySee Post

Crowdfund-Escrow a simple blockchain crowdfunding protocol

r/CryptoCurrencySee Post

Intotheblock newsletter on-chain insights "2021 on-chain"

r/CryptoCurrencySee Post

What are the differences between DAI and UST?

r/CryptoCurrencySee Post

Three Ways to Generate Passive Income with DeFi

r/CryptoCurrencySee Post

I have seen a lot of bashing on USDT on this sub. Is there a BEST stablecoin? Which one do you prefer?

r/CryptoCurrencySee Post

Decentralized Finance 3.0+: The Path To A New Financial System

r/CryptoMarketsSee Post

Why is tether bad?

r/CryptoMarketsSee Post

What crypto trends are you expecting to happen in 2022?

r/CryptoCurrencySee Post

How can I send DAI from my metamask wallet avoiding ETH fees?

r/CryptoCurrencySee Post

The rising market cap of stablecoins can prevent future instability

r/CryptoCurrencySee Post

Using CEFI/DEFI loan vs Alchemix loan to buy out my business partner?

r/CryptoCurrencySee Post

The Aftermath of a Rugpull: How would YOU execute it?

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 56k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | Ultimate 2 Factor-Moon Potential | DEX COMING

r/CryptoCurrencySee Post

Wetspace 💦 A Adult Social Media Platform without a coin.

r/CryptoCurrencySee Post

Wetspace 💦 A NSFW Platform without a coin.

r/CryptoCurrencySee Post

If a bear market hits, these coins will certainly survive a bear market.

r/CryptoCurrencySee Post

No High DeFi Yield for US Customers, Coinbase Allows Global Users to Earn Interest on DAI via Compound

r/CryptoCurrencySee Post

Am i a dinosaur for still using DAI? I never saw any reason to switch. Are there real advantages to using USDC or BUSD, etc?

r/CryptoCurrencySee Post

Locked Dai on Metamask! Any advice?

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 56k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | Ultimate 2 Factor-Moon Potential | DEX COMING soon

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 56k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | 145 / 17 Holders | Ultimate 2 Factor-Moon Potential | BIG Buy Challenge

r/CryptoCurrencySee Post

Coinbase Offers Access to DeFi Yields With DAI and Compound

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 56k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | 145 / 17 Holders | Ultimate 2 Factor-Moon Potential | BIG Buy Challenge

r/CryptoCurrencySee Post

Coinbase Offers Access to DeFi Yields With DAI and Compound - VERY IMPORTANT!

r/CryptoMoonShotsSee Post

Jade Protocol | Fastest growing DAO | busd airdrop rewards | stake and earn | Rug Doc Kyc |

r/CryptoCurrencySee Post

Crypto Visa Debit Cards: An Overview

r/CryptoMoonShotsSee Post

Meowcome to meow.finance ! Let me introduce myself🐱 | Low cap | Ftm moonshot | Insane Apr

r/CryptoCurrencySee Post

Question About A Certain Site With High Staking Crypto Interest Rates

r/CryptoCurrencySee Post

Future of DeFi reserve currencies

r/CryptoCurrencySee Post

I bought 3 DAI on the Palm network but for some reason, it says I have 0.0499. Any ideas why?

r/CryptoMarketsSee Post

Stablecoin Market Trends and Report

r/CryptoCurrencySee Post

Stablecoin Passive Income

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 38k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | 145 / 12 Holders | Ultimate 2 Factor-Moon Potential | BIG Buy Challenge

r/CryptoCurrencySee Post

Noob question about DAI.

r/CryptoCurrencySee Post

25 Days of Flexa: Day 7

r/CryptoCurrencySee Post

How Do Small Investors Afford the Fees?

r/CryptoCurrencySee Post

What Cryptos Would Be Most Practical For Tipping?

r/CryptoCurrencySee Post

8ight Finance, an OHM fork on Harmony who promised to give money to the people affected by the Snowdog DAO rug pull, just got hacked and lost $868k from its treasury

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | 58k / 38k Mcap | Just launchend | Hodl & earn 4% BUSD or Dai Rewards | 145 / 12 Holders | Ultimate 2 Factor-Moon Potential | Best time to buy today

r/CryptoCurrencySee Post

25 Days of Flexa: Day 6

r/CryptoMoonShotsSee Post

Floshin 🚀 $12m MCap in 7 days | Debit Card | DEX | Escrow | Stable Coin | Governance Platform | Whole set of DApps | Listed CMC and CG | CoinTelegraph Worldwide PR soon🚀

r/CryptoCurrencySee Post

Nobody here has the balls to boycott Tether, and that’s why nothing will happen yet.

r/CryptoCurrencySee Post

Solving the DEX liquidity challenge – an innovative solution

r/CryptoCurrencySee Post

Holding $WBTC, $WETH or $LINK and betting against a bullish scenario: How to earn premium's in a bearish period

r/CryptoCurrencySee Post

A crypto noob learns how to DCA on DEX's

r/CryptoCurrencySee Post

25 days of Flexa: day 5

r/CryptoCurrencySee Post

If you could change 1 thing about CryptoCurrency space, what would it be?

r/CryptoCurrencySee Post

Where to go to holidays? Croatia’s Largest Supermarket Chain Starts Accepting Bitcoin (BTC) & XRP (and more) Payments

r/CryptoCurrencySee Post

Swerve is going to fade away

r/CryptoCurrencySee Post

25 Days of Flexa: Day 4

r/CryptoCurrenciesSee Post

Thoughts on stablecoin failure?

r/CryptoCurrencySee Post

Cyber Monday Mega Meta Christmas Crypto Super Duper Flash Crash Sale

r/CryptoMoonShotsSee Post

🐶 Safe Minu on BSC & Polygon Network 🚀 | Hodl & earn 4% BUSD or Dai Rewards | Just launchend | 150 / 11 Holders | 63k / 33k Mcap | Ultimate 2 Factor-Moon Potential | Best time to buy today

Mentions

Tether Still Dominates Stablecoins, but USDC and Dai Are Winning DeFi. USDC and DAI seem to have found their niche as the preferred stablecoins in decentralized trades.

Mentions:#USDC#DAI

I'd suggest you check out GOV, still very pretty much undervalued ATM but has a good longer-term potential for growth. Just recently launched on PCS and it has real world use-case by being able to increase the amount of USDT, USDC, or DAI you’re able to borrow against the USD value of your altcoin or NFT portfolio.

To me personally i reallt think Tether is just a Ponzi scheme that people are just in too deep which most certainly keeps everybody at Tether from doing a rugpull. Other than that DAI has just fundamental backing and not real monetary funding which is very fucking weird. USDT and BUSD as well as USDC and TUSD can all claim and do for the most part that they have the same amount of money locked in their bank. DAI is just (Yeah its 1;1 against the USD believe us ;) ;) ) BUSD seems for me the way to go, i know its just in Binance as a stablecoin and in some paper wallets, but binance is a massive Exchange if not the most in my opinion. Some regulatory troubles here and there but lets not forger their own Fundamental coin BNB hasnt fallen from the top 10 in several years. So yeah Terra is beautiful in theory but doesnt really do much and USDC is like that annoying cousin on Thanks Giving. Nobody says he is a bad kid but he spends all his day in his moms basement without socializing so nobody can also say he is a good kid. Ya feel me ?

The short story with USDT is that they don’t have enough Cash (on their balance) to support the claim of storing 1 USD for each 1 USDT. (Which is why some people shied away from it, I mean the downsides could be horrendously 🤷🏽‍♂️) USDC on the other hand took a different approach and is more as in 1 USDC is always 1 USD of BTC and ETH. And that still gives it a different future when it comes to scalability IMO. Makes its more secure and stable. As for DAI, for me is the possible growth it has because of its ecosystem. (And think about DAI more as a collateral crypto. And as more and more people get into crypto I believe that to be a very good thing.) One thing that can help is reading their whitepaper, to understand the company that created these stablecoins and their vision. Hope that helps, cheers! ✌🏽

DAI, created by maker, is minted after overcollateralized crypto is deposited, meaning always has a higher market value than outstanding DAI.

Mentions:#DAI

The Terra Protocol - UST - maximizes yield potential while balancing platform risk - integrations are popping up like hot cakes - surpassed decentralized competitor DAI - reached record high marketcap It's an algorithmic stablecoin - different to asset backed coins - 1 UST redeemable for $1 worth of Luna directly interacting with protocol; destroying the UST and minting Luna in the process - $1 of Luna can be burnt to mint 1 UST; this is the peg.

Mentions:#UST#DAI

I´m looking into gold-backed stable coins! For now USDC and DAI. I just hope a lot of people will stop using tether, TBH that situation scares the shot out of me. **F U tether!**

Mentions:#USDC#DAI

USDC, GUSD, and BUSD are all externally audited. All stablecoins have risk, but lumping USDC with USDT and DAI seems unfair.

There's definitely issues, none have released a full audit just an attestation, which from the NYAG court case, clearly showed a way to fake those if your sister company is an exchange. Otherwise Circle changed their wording from backed one to one, to now backed by dollar equivalents just like Tether without any real acknowledgement of the change. DAI isn't like that, but if it's made in part of the above assets it gets corrupted by the same flaws. Really every single thing in crypto has flaws. Almost all have the issue of what will happen with impending regulations. It's on the individual to research the risks and make an informed call. There is no "you shouldn't put money in this" just more "make sure you're aware".

Mentions:#DAI

None of them is pegged 1coin=1usd, that's not how they make money. Get over it or do 't zse stablecoins. We already know that USDT is crap, nothing new. But I am actually glad for USDC and DAI.

Post is by: TryingToMakeAMil and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s4wz01/usdt_usdc_and_dai_are_trash_and_you_should_be/ There are a lot of Tether (USDT) haters on this sub - and rightfully so. But at the same time, there seems to be a lot of USDC worshippers. It’s almost like a political situation with some people voting red and some people voting blue. In reality, they’re both essentially the same thing - **2 centralised coins issued by private corporations.** Gary Gensler has full authority over the regulation of the stablecoins. This means that the Securities and Exchange Commission (SEC) can regulate both USDT and USDC however they like. On top of being able to regulate the companies behind these stablecoins, this gives SEC **the ability to blacklist any address holding any stablecoin.** The possible damage of this authority is HUGE. Think about the “decentralised” DAI stablecoin (pegged to $1). It’s mostly backed by USDC and ETH collateral. The SEC can simply order Centre, the private corporation behind USDC, to use their blacklist (ETH address) function and blacklist DAI’s USDC collateral. The government can technically do this at ANY TIME. These coins are trash and the anti-thesis of cryptocurrency. Let’s keep in mind that crypto was invented as digital money that no single entity can control, unlike regular money which is under control of government/central banks. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*

If I may share my personal opinion I read the USDT white paper and Bloomberg's article about USDT being a fugazi which article I really recommend. Idk man seems like one of those things where the whole Crypto Currency system itself is too deep to back out now. Like at this point, BUSD is just in binance. TUSD is really not massively adopted like Tether. And DAI is just .... DAI. Its hard to say foe me if it can be a rugpull since all those crypto whales use USDT as their bread and butter.

There isn't one single "correct" price. Sites displaying "the price" take price info from the various exchanges, each has its own market and price, and then they just calculate the average of that. If you take the feeds used by MakerDAO/DAI for ETH price it's pretty reliable since they use multiple of such feeds for sure and the outliers in one direction or another are excluded. If you had one centralized official feed it would be too easy to manipulate.

Mentions:#DAI#ETH

You have USDC, DAI and couple more.

Mentions:#USDC#DAI

I'm not sure if USDT will ever die, it's too big at this point. Despite **all the reasons** not to use USDT it still has the highest marketcap among stablecoins, others don't even come close - USDC, DAI, BUSD. If it ever dies though, I still think that crypto as a whole will still recover, there are a lot of good stablecoins going around nowadays.

I heard you can convert moons to DAI. What are the benefits?

Mentions:#DAI

The day exchanges begin accepting direct deposits for paychecks is the day I quit banks. Direct deposit to USDC, DAI etc Would actually earn interest on idle money Bill pay isn't an issue with exchange debit cards offered now Many exchange debit cards offer % back on purchases, when has a bank paid YOU for using your debit card with them!? Easier to buy and sell appreciable assets to grow your wealth, again something banks don't offer.

Mentions:#USDC#DAI

USDC is still a centralized stablecoin. What we need is the likes of DAI or UST.

Mentions:#USDC#DAI#UST

I’ll take the 1,000,000 in DAI on the FTM chain. It’s going to be easy to put it into a lending pool from there for 10% interest, then borrow like $500,000 in FTM to put into a farm offering 100%+ APR This exists already

Mentions:#DAI#FTM

Yes, they're compatible but two different networks altogether. Sushiswap and Curve are dexes. Defi Kingdoms has a dex too but it's a tad bit more complicated since it's part of the game ecosystem. You can buy Harmony versions of ERC-20 tokens, you can find the full list [here](https://explorer.harmony.one/hrc20). But yes, the ones you mentioned–ETH, DAI, etc.–are all available.

Mentions:#ETH#DAI

So, if I understand correctly, I can buy ONE, and just skip the ETH net altogether? Can I convert the ONE to other Harmony chain tokens using a DEX? (Harmony ETH/DAI/etc.)

Good point. Worth also mentioning that Luna has an intrinsic value as it has real world uses (e.g. payment platform in korea) and so in theory shouldn't ever go to zero. This is in contrast with stablecoins like DAI, which are also algorithmically pegged but could, in theory (however unlikely), go to zero.

Mentions:#DAI

All stablecoins except UST, DAI and other algorithmic coins can be frozen

Mentions:#UST#DAI

If you purchase them on layer 1 then yes. You can also purchase things on layer 2 currently through defi/dex and some cex are hopping on the layer 2 train. Also yes, unfortunately, your DAI is trapped until you see gas prices low enough for you to make the transition AFAIK.

Mentions:#DAI

UST DAI USDC USDT are gonna be soon all top coins

Correct me if I'm wrong, but in order to use a Layer-2 solution I have to move crypto from L1 to L2 and *then* I get the benefit of the low gas fees. But in the meantime, anything I have in L1 is essentially trapped unless I'm willing to pay enormous gas fees to move it. (Ex. I have $100 in DAI in my wallet but to move it anywhere is often more than $100 in fees). If there's some magic to move from L1 to L2 without incurring crazy gas, I'd love to know.

Mentions:#DAI

Unfortunately DAI can't pump😅 Data protocols👍Storage protocols(AR, AIOZ, FIL too) and smart contract protocols will have a good year. This year won't really be for hype but rather for development.

Mentions:#DAI#AIOZ#FIL

No…but there is still a lot of USDC backing Dai at the moment, so technically USDC could freeze the dai inside it’s contract and that could lower the trading value of DAI.

Mentions:#USDC#DAI

I would add data protocols like Ocean or Graph and stablecoins. I think they will be huge, once county FOMO hits. Projects like DAI and eMoney are going to be big af!

Mentions:#DAI

I think a US central bank backed stablecoin would be amazing. Most stable coins currently require not only trusting the dollar itself, but also companies, or even worse, the dollars other companies print (for example, DAI being backed by the tether dollars tether prints). Would there be any drawback to a USCBD?

Mentions:#DAI

This can't happen with DAI, correct?

Mentions:#DAI

Has DAI ever frozen assets? I know they're different from the centralized stablecoins

Mentions:#DAI

DAI is also good 👌

Mentions:#DAI

They're different vaults, each with different collateralization ratio. idk exact numbers but say one will be deposit 1 ETH for 75% of value in DAI, or 1 ETH for 50% value in DAI etc.

Mentions:#ETH#DAI

https://daistats.com/#/ Great site with tons of info on DAI.

Mentions:#DAI

Your comment is Interesting ... I thought DAI was collateralized by ETH.

Mentions:#DAI#ETH

Would be nice to see UST, DAI and MIM make a big push to unseat USDT as well. USDT is like the blood of the crypto markets right now, and the sooner that markets get a blood transfusion of protocol based stable coins rather than centralized, the better.

Be nice to see USDT and USDC go the way of the dodo. Also be nice to see DAI be collateralized by different stables, but I understand their hesitancy.

Currency? USDC or DAI. XLM for cheap transfers

Mentions:#USDC#DAI#XLM

both USDT and USDC are centralized stablecoins issued by a company DAI is partially backed up by USDC UST, MIM, FRAX are the algorithmic decentralized stablecoins

>Hopefully UST can climb the ranks. UST already flip DAI. see coingecko rankings.

Mentions:#UST#DAI

UST has won me over lately with the returns you can get on Anchor Protocol, but USDC and DAI equally as good.

Mentions:#UST#USDC#DAI

I’d say DAI and support Ethereum, xDai and Polygon as networks. Supports decentralization, ETH/BTC and allows for virtually no fees

Mentions:#DAI#ETH#BTC

I’ve been using coinbase card for the rewards. I’ve been spending USDC as my stablecoin. I just learned about DAI yesterday. Should I swap to using that instead? It’s truly decentralized and has higher APY

Mentions:#USDC#DAI

USDC already has that "feature". Stick to DAI/UST/PAXOS/BUSD.

I believe the more mainstream attention we get, the more precise and trustful stablecoins we need. What we lack in this space is transparency. That is why I do like projects like DAI, USDC at some point, and eMoney NGM array of stablecoins. They are backed by fiat audited fundamentals that are there for everyone to see.

Mentions:#DAI#USDC#NGM

Defi has MAI MIM UST FRAX DAI and much more. I think it'll be fine lol

I would definitely prefer a decentralized solution that would be closer to DAI. USDC is still a huge step up from USDT which I could see help collapse the whole crypto market for whole other reasons than centralization or connection to three letter organizations.

So Paxos or DAI it is?

Mentions:#DAI

Noob question-- how do you get the 19% on DAI on the Gains Network? It doesn't look like there is anywhere to deposit DAI on the site? Also, any decent instructional videos on GainsNetwork out there? (a google search provided very little!)

Mentions:#DAI

Hodlnaut offers 7.5% interest on BTC and ETH and almost 13% on Tether USDC and 9.6% on DAI Not bad passive income.

USDT/USDC/DAI/UST and stake!

You right! It may interest you to know that the team already submitted a proposal for OUSD and OGN to be included as collateral assets for minting DAI on MakerDAO. All things being equal, a great advantage it will be for all OGN and OUSD holders.

Mentions:#OUSD#OGN#DAI

Yeah really it’s whatever you feel comfortable with I tend to leave DAI on my CEX’s. I have a ledger so I can do staking and such on it as well with additional security!

Mentions:#DAI#CEX

DAI needs to be promoted more. USDC kinda works too. USDT is being used too much

Look into DAI and UST

Mentions:#DAI#UST

SCrew meme coins. They have no future. For me the future is in data web3.0 (Ocean Protocol, The Graph etc) and stablecoins (eMoney, DAI) etc. The rest is just utter crap.

Mentions:#DAI

I guess it all depends on what you mean by serious endeavor. I can say for a fact that the amount of value locked on these protocols is in the billions of dollars, which in my opinion, is a quite serious endeavor. That said, the liquidity associated with traditional financial institutions is orders of magnitude higher... so I guess it's all a matter of perspective. That said, there are several platforms such as AAVE which have fantastic UI/UX and which seamlessly connect to all sorts of crypto wallets directly on the platform. The AAVE platform alone has around $13 billion worth of value locked on it, and has markets for many different crypto assets (stable coins and non-stable coins). For example, right now you can borrow DAI tokens (a stable crypto currency that tracks the price of USD) for 3.99% APY on a variable loan. While this borrowing rate seems quite high compared to things like mortgage rates, remember, you can literally borrow on this platform RIGHT THIS INSTANT as long as you have enough crypto currency locked on the platform. Basically, these protocols operate much differently from banks. Banks lend out money based on a fractional reserve system, whereby they only need to hold a percentage of their lent out funds as collateral. Decentralized protocols like AAVE operate based on an overcollateralized system, whereby the borrower can only borrow a portion of the funds they deposit on the platform. An example of a way to use the platform, is you can park your idle cash in DAI or USDC (another stable coin) earning roughly 1.5% - 3.5% APY. Let's say you deposit $10,000. Then you can borrow out some fraction of that based on the currency you deposited. For DAI / USDC / Other high quality stable coins, I believe the Loan to Value (LTV) ratio is around 75% worth of ETH. So in the case of my $10,000 deposit, I could borrow $7,500 worth of ETH and then go use that ETH for whatever the heck I wanted. There's no application process, there's no documents signed. This entire saving / lending platform is run by a sophisticated protocol in a trustless manner. It actually almost feels quite magical. While the above described type of savings and lending platform does not offer some obscene amount of leverage that something like a business loan would offer, what it does offer is an opportunity to expand the reach of limited capital, while also providing opportunity for competitive yields on your idle assets. Pretty neat stuff.

Gains network (gTrade, token GNS) is offering 35% on DAI, and about 220% on GNS/DAI LP. Token is also deflationary, and burnt by trading fees on the platform

Mentions:#GNS#DAI

No but gTrade is decentralized leverage trading. Just bring DAI into your Metamask and start trading. I love it, it's awesome.

Mentions:#DAI

I stake DAI on gTrade and earn 25% APY. I also stake DAI/GNS into liquidity pool at earn massive APR. Like 200% sometimes. gTrade is the best leverage trading platform in Defi I know. Check it out.

Mentions:#DAI#GNS

Sure, DAI and USDC have a pretty comfortable reputation.

Mentions:#DAI#USDC

Beefy just added Gains Network, but hey are promoting 35% APR for the GNS/DAIL LP, when it's over 100%. I'm told they have been notified, and hopefully will correct that. But it's one of the best APRs in defi right now, all paid from trading fees collected from the gTrade platform. They also have a DAI only pool not listed on beefy paying over 20%.

Mentions:#GNS#DAI

Gains Network has been delivering 20-35% APY on DAI stable coin. Also 120%+ on their GNS/DAI LP which is 100% paid from trading and swap fees, not inflation. Their gTrade leveraged DEX earns the fees, and also burns the supply when traders get rekt doing leverage. Worth a look.

Mentions:#DAI#GNS#DEX

They say it’s a stable coin, I hope one day XLM can revise their code to back the US dollar. Then it’ll be a real stable coin like USDT and DAI

Mentions:#XLM#USDT#DAI

Fiat-backed: USDC by Circle, USDP&BUSD by Paxos Algorithmic: UST by Terra, cUSD by Celo, sUSD by Synthetix Algorithmic&Collateralized: FRAX by Frax Collateralized: DAI by Maker, LUSD by Liquity Unpegged: RAI by Reflexer If you want a stablecoin that actually backed by real US dollar, go with USDC/USDP/BUSD. If you want the decentralized one, go with Algorithmic and/or Collateralized stablecoins. If you want a non-pegged-to-fiat stablecoin, go with RAI The risk of centralized fiat-backed stablecoin is censorship. The risk of algorithmic and collateralized stablecoin is volatility. I'm not sure about the risk of RAI, still learning

I’m partial to audited coins fully backed by dollars or dollar equivalents. USDC is one, there are others too. DAI and UST are backed by smart contract algorithms. I’m not sure if they’d be resistant to a bank run, and the peg tends to drift some. There’s always a chorus of folks happy with their 20% yield in anchor but I’m not sold. Tether is pretty shady. They claim to be fully backed by dollars, dollar equivalents, crypto, and maybe other stuff. So far I don’t believe they’ve been audited and they didn’t show up to a recent US senate crypto hearing.

Mentions:#USDC#DAI#UST

DAI algorithmic stablecoin USDC custody stable All good

Mentions:#DAI#USDC

Compound DAI/ETH are cTokens from the Compound platform. Basically, when you lend out DAI on compound, you are given an equivalent amount of cDAI. These tokens appreciate in value against DAI based on the interest rate on Compound. When you withdraw your funds and close the contract you redeem your cDAI for DAI again. This is similar to how most lending pools work so that they aren't constantly paying out earnings which would incur unimaginable amounts in gas fees

Mentions:#DAI#ETH

Lol, even if cash is trash, you'll still need some emergency funds and that's what I keep in the bank. I have some of my funds in USDT and also spread my investments to minimize my losses. Gems like ATOM, DOT and CRO are solid, even some L2 tokens like x-DAI, MATIC and NII will blast off once the dip is over as they offer optimal solution for addressing the increasing load on the ETH network.

Save you a click, they include stablecoins NEM (XEM: -43.33%) Bitcoin SV (BSV: -24.36%) Celsius (CEL: -18.49%) Dai (DAI: -0.44%) Pax Dollar (USDP: -0.29%) Tether (USDT: -0.17%) Zilliqa (ZIL: -0.12%) TrueUSD (TUSD: -0.11%) TerraUSD (UST: -0.01%) USD Coin (USDC: -0.01%)

USD Coin (USDC: -0.01%) TerraUSD (UST: -0.01%) TrueUSD (TUSD: -0.11%) Zilliqa (ZIL: -0.12%) Tether (USDT: -0.17%) Pax Dollar (USDP: -0.29%) 2020). Dai (DAI: -0.44%) Celsius (CEL: -18.49%) Bitcoin SV (BSV: -24.36%) NEM (XEM: -43.33%) *saved you a click*

Based on how they operate it will be worse than USDC for sure. Definitely not as good as DAI.

Mentions:#USDC#DAI

BUSD is used by Binance but is still fully backed 1:1 by USD. The coin is actually issued by Paxos and is fully insured and regulated, so Binance can't actually touch the backing of it, it is one of the safest stables out there right now. I would be a lot more worried about coins like UST and DAI that are only backed by crypto, there is no way a crypto backed stable could withstand the fallout of a Tether crash. Check out this link for more info https://paxos.com/busd/

Mentions:#BUSD#UST#DAI

The only missing thing for DAI is pairs in exchanges.

Mentions:#DAI

Bullish! Paypal will be better than Tether! Though decentralized options like DAI are still better!

Mentions:#DAI

>They think that somehow, an imaginary asset with fixed supply will solve all economic woes the world over, nevermind the fact if it ever happened would only worsen inequality as crypto holdings are egregiously more concentrated than other asset classes and would put early adopters on top of the food chain They could simply hoard their coinz and wait for others to come begging for scraps (which is, in earnest, what cryptobros actually want - not egalitarianism, just to become the new top of the monetary pyramid). The sleight of hand this has involved is quite brilliant from a marketing/conman perspective. When it started crypto was valuable despite not being backed by anything because it was going to become a global currency. When it became apparent its not going to be a functional currency, it changed to "store of value" without anyone questioning what its meant to be value for now it doesn't do the only reason it was meant to be valuable. It's become entirely circular "it's valuable because its valuable", or occasionally "it's valuable because its rare". just don't ask what the value is in a useless, arbitrarily rare token there can be infinite, functionally identical copies of. Or how this "store of value" differs from empty speculation on a useless token. The whole space has become dedicated to self-deceiving justification of ponzi-economics but using redefined terms to avoid the dreaded P-word because your average Joe knows ponzi schemes are frauds even if they know nothing else about economics. Hilariously occasionally they forget to say the loud part quiet and just outright describe a ponzi/pyramid scheme without cloaking it in the language of "disrupting finance" and being a "hedge" or a "reserve asset" or "digital gold". But the intention is implicit every time people talk about "buying the dip", "we're still early", "hodl". The message is clear, get in early and stay in so you can sell your bags to a later sucker. > This is not to mention the inevitable deflationary spiral that would ensue. Yup, its embarrassing how little thought Satoshi actually put into monetary theory. He didn't actually want Bitcoin to be hyper-deflationary, he wanted it to result in similar prices to USD and EUR, but he had no idea how to do that so he just guessed the amount that would be required. He literally thought you could just move the decimal point to avoid the problems of hyper-deflation should they occur, which is as brain dead as thinking moving the decimal can solve hyper-inflation. It shows ignorance of basic principles of supply and demand. you can't have a stable purchasing power if demand for currency fluctuates (as it always does with fluctuations in the overall economy), and supply is fixed. You would have to fix demand for currency at exactly the same rate as supply which is of course impossible. A stable currency must be able to increase and decrease supply to match demand. Doing this purely algorithmically in a way that's impossible to manipulate is basically impossible which is why even "algorithmic" stablecoins like DAI are mostly backed by dollar pegged stablecoins. The amount of double think this has induced is insane. You have the people claiming how they're always going to hodl and are never going to sell, who are also the same people claiming that its "FUD" to say no one would spend deflationary currency because once it hits some arbitrary market cap/"adoption" then everyone will suddenly start spending it because "people need to buy food". Because apparently hoarding Bitcoin and just using regular cash to buy food will become impossible somehow.

Mentions:#DAI

why tether is used over DAI or usdc, beats me

Mentions:#DAI

If you're investing in crypto solely for its token price, you cold be looking at this space with a narrow view. Tokens for defi have utility and passive income opportunities that can benefit you regardless of price action. Look at GNS for example. There is zero pressure to sell the token. So price is less important. Staking into the gTrade liquidity pools will earn rewards in the form of DAI (stablecoin on Polygon). Rewards are earned from the DEX trading fees so the money is organically sourced and sustainably earned. The presence of whales doesn't harm the investor because selling is not the end game. This is my first example but I'm sure there's other examples where selling is not the purpose for buying.

Mentions:#GNS#DAI#DEX

They're trying to grow. Also they only take/pay in DAI and synthetically track the actual coins using a custom chainlink oracle that takes the median price across 7 exchanges so you're not too much at risk. Similar to dydx or perm or GMX. Worse thing I don't like is their anon dev but I know enough solidity to looked over the contracts. Has saved my ass on binance flash wicks and NY has really barred any kyc leveraged options so I'm forced to v use the defi ones

Mentions:#DAI#GMX

When tether crash the market, imma buy the dip with UST, DAI and BUSD.

Mentions:#UST#DAI#BUSD

Yeah DAI will likely just be a token on the Ethereum network so it'll have the high gas fees. LTC is probably you're next best bet.

Mentions:#DAI#LTC