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r/CryptoMoonShotsSee Post

Hydra | A permissionless, open-source, proof-of-stake blockchain | Stake HYDRA to help maintain the network

r/SatoshiStreetBetsSee Post

A Practical Guide for DeFi

r/CryptoCurrencySee Post

I want to transfer money from Russia to USA, using crypto - what is the best way to do it?

r/CryptoMoonShotsSee Post

Discover Y24. io: Revolutionizing Crypto Yields | Join Free Airdrop | RWA | Trenches pools | Bitcoin Staking

r/BitcoinSee Post

Your favorite Dex to tradde BTC?

r/CryptoMoonShotsSee Post

Join the Y24 Airdrop | Spin for Rewards & Earn 20% Referral Bonuses | Unlike Blast. io | 100x SOON

r/CryptoMoonShotsSee Post

What is the Y24 Earning Mechanism? Multiply Your Crypto Holding & Grow together with Y24.

r/CryptoMoonShotsSee Post

Introducing KEI finance

r/CryptoCurrencySee Post

Blast Layer 2's Remarkable Growth: Unveiling a Week of Record-Breaking Crypto Activity!

r/CryptoCurrencySee Post

Defi Advantages?

r/CryptoMarketsSee Post

DAOs as a way to earn extra money

r/CryptoCurrencySee Post

E-Money Tokens and Asset-Backed Tokens according to MiCA

r/CryptoCurrencySee Post

How come DAI lost its peg in March?

r/CryptoCurrencySee Post

How come DAI lost its peg in March?

r/CryptoCurrencySee Post

What's the actual purpose of DAI?

r/CryptoCurrencySee Post

Kraken - Trading suspension in Canada for USDT, DAI, WBTC and WAXL

r/CryptoMarketsSee Post

Crypto prediction markets and would you use them?

r/CryptoCurrencySee Post

Uniswap's founder hayden adams decided to charge a fee in the official frontend starting tomorrow

r/CryptoCurrencySee Post

How does any Decentralized Platforms works ?

r/CryptoCurrencySee Post

Helping the above average John guy understand the Defi space : Decentralized fixed-interest rate protocols, Yield, Saffron Finance, Horizon Finance, Which one you should choose, risks + notable mentions

r/CryptoCurrencySee Post

Polygon Based, Real Estate-Backed Stablecoin Real USD (USDR) Has Just Depeged to .60, Dropping 40% in Minutes

r/CryptoCurrencySee Post

The last year has been so insane, do you guys remember the USDC and DAI depeg?

r/CryptoMoonShotsSee Post

Mega Inu on Pulsechain

r/CryptoCurrencySee Post

DAI Is The Most Stable And Proven Decentralized Stablecoin But How it Keeps Its Correlation And How It Works?

r/CryptoCurrencySee Post

The Big Redeeming. - Full Research on Why LQTY Will Likely Explode in Price Because of Redeeming

r/CryptoCurrencySee Post

Helping the above average John guy understand the Defi space : Decentralized insurance, Nexus Mutual, Armor Protocol, Cover Protocol, Capital Efficiency, Claim payout ratio and risks + notable mentions

r/CryptoCurrencySee Post

Which stablecoin is the most stable? An analysis of past and present de-pegs and some questions for the future.

r/CryptoCurrencySee Post

Helping the above average John guy understand the Defi space :Decentralized Lending & Borrowing, Compound Finance, Maker, Aave, TVL, Utilization Ratio, Lending and borrowing rates and risks + notable mentions

r/CryptoMoonShotsSee Post

UtopiaP2P - Modern level of Privacy for AI, Crypto, p2e, Alt-tech and More | Listed on CMC & CG

r/CryptoCurrencySee Post

Helping the above average John guy understand the Defi space : AMMs differences, risks and notable mentions(PancakeSwap and 0x Protocol)

r/CryptoCurrencySee Post

Helping the above average John guy understand the Defi space : Uniswap, SushiSwap, Balancer, Curve Finance and Bancor. Also a recap on DEXs and AMMs.

r/CryptoMarketsSee Post

Why do you use DEX ?

r/CryptoCurrencySee Post

Why do you use DEX ?

r/CryptoCurrencySee Post

In 2021, "Mr. White Hat" pulled off a $600+ million exploit against the Poly Network, which is the second biggest crypto hack of all time. He then established communication through Ether transaction data fields, and agreed to give all the stolen crypto back. He was given a 160 ETH bounty.

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : Defi real life use cases

r/CryptoMoonShotsSee Post

Quiver Trade: The First Derivatives Exchange To Offer Direct Gold Perpetuals with absolutely No KYC, Lowest Taker Fee, and Auto-Conversion of Deposits Stablecoin Assets!

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : broker Armor, Nsure Network and Cover Protocol

r/CryptoMoonShotsSee Post

UtopiaP2P - Advanced and Secure access to no paywall AI, P2E, Crypto and Private Communication | Listed on CMC & CG

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : Decentralized insurance and Nexus Mutual

r/CryptoCurrencySee Post

How to move crypto to cold storage automatically (i.e. the best cold wallet is useless if you forget to transfer your holdings to it)

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : Decentralized Payments and Sablier

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : Decentralized lottery and PoolTogheter

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : Decentralized lottery, PoolTogheter

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space : DEXs, Uniswap and 1inch

r/CryptoCurrencySee Post

How ERGO's Decentralized Stablecoin Works And How It Kept its Peg While Most Decentralized Stablecoins Struggled: SigmaUSD

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space: Aave edition

r/CryptoCurrencySee Post

The three different ways that stablecoins are backed - fiat, crypto and precious metals

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space: Compound edition

r/CryptoCurrencySee Post

Helping the average John guy understand the Defi space: stablecoins and Maker edition

r/CryptoMoonShotsSee Post

UtopiaP2P - File sharing, AI, Crypto, and Secure Private Access in all Niches | Listed on CMC & CG

r/CryptoCurrencySee Post

CoinEx Was Hacked, Hot Wallets Drained For Around 30 Million And A Strange Nano Transaction Some Hours Ago

r/CryptoCurrencySee Post

Stablecoin de-pegging plagued USDC and DAI more than others: Analysts

r/CryptoCurrencySee Post

Stablecoin de-pegging plagued USDC and DAI more than others: Analysts

r/CryptoCurrencySee Post

Understanding DeFi Part 2: Providing Liquidity, LP Tokens, and Impermanent Loss

r/CryptoMoonShotsSee Post

UtopiaP2P - Supreme Privacy, and Security for AI, Crypto, P2E, Encrypted Communication and More | Listed on CMC & CG

r/CryptoCurrencySee Post

Update - Again receiving series of unknown NFTs on Polygon cold wallet after transaction from Binance chain cold wallet

r/CryptoCurrencySee Post

Received a series of unknown NFTs in 4 different transactions on cold wallet MATIC chain

r/CryptoCurrencySee Post

MOON Pioneers, Thank You for Your Sacrifice! There are 2,7 Million XMOONs Lost(Locked) on Gnosis Chain

r/CryptoCurrencySee Post

[SERIOUS] Changelly's Unfair Practices: 5k DAI Stuck Despite Successful KYC & AML. Let's join forces!

r/CryptoCurrencySee Post

[SERIOUS] Changelly's Unfair Practices: 5k DAI Stuck Despite Successful KYC & AML. Let's join forces!

r/CryptoCurrencySee Post

Your mom will use crypto because of ERC4337 Account Abstraction

r/CryptoCurrencySee Post

Community Tokens are Grrreat! But what about steak? Where do you stake?

r/CryptoCurrencySee Post

Moons are Grrrrreat! But what about Steak? Where do you do your staking?

r/CryptoCurrencySee Post

If you are holding stablecoins without putting them into work, you are doing something wrong

r/CryptoCurrencySee Post

MakerDao's Spark Protocol sees over $1bn influx of deposits as crypto prices tumble. With 8% yield on DAI stablecoin at no additional risk, and US users now accepted, DAI is now considered by many to be a high yielding safe haven.

r/CryptoCurrencySee Post

MakerDao's Spark Protocol sees over $1bn influx of deposits as crypto prices tumble. With 8% yield on DAI stablecoin at no additional risk, and US users now accepted, DAI is now considered by many to be a high yielding safe haven.

r/CryptoCurrencySee Post

Coinbase Ceases Support for USDT, DAI, and RAI in Canada

r/CryptoCurrencySee Post

Coinbase suspending RAI, DAI, USDT come August 31 in Canada

r/CryptoCurrencySee Post

MakerDao's Spark Protocol sees over $1bn influx of deposits as crypto prices tumble. With 8% yield on DAI stablecoin at no additional risk, and US users now accepted, DAI is now considered by many to be a high yielding safe haven.

r/CryptoCurrencySee Post

MakerDao's Spark Protocol sees over $1bn influx of deposits as crypto prices tumble. With 8% yield on DAI stablecoin at no additional risk, and US users now accepted, DAI is now considered by many to be a high yielding safe haven.

r/CryptoCurrencySee Post

Coinbase Will Suspend USDT, DAI and RAI Trading for Canadian Users

r/CryptoCurrencySee Post

Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI), and Tether (USDT) on August 31, 2023

r/CryptoCurrencySee Post

Canada Attacking DAI!

r/CryptoCurrencySee Post

Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI), and Tether (USDT) on August 31, 2023

r/CryptoCurrencySee Post

Are sidechains and L2s a covert vampire attack on Ethereum?

r/CryptoCurrencySee Post

MakerDAO Attracts $700M In Deposits After Hiking DAI Savings Rate

r/CryptoCurrencySee Post

Mysterious ETH destroyer nd4.eth burns nearly $4 million worth tokens and NFTs again

r/CryptoCurrencySee Post

Charity and crypto

r/CryptoCurrencySee Post

We do not need centralized stablecoins at all, DAI is the *perfect* stable, and it yields 8% risk free via the DSR. As a community, we should just DROP USDT, USDC, and (pyUSD). Let DAI reign supreme

r/CryptoCurrencySee Post

What's the best stablecoin for earning interest these days?

r/CryptoCurrencySee Post

Guide: Stable coins

r/CryptoCurrencySee Post

A Fresh Perspective on Yesterday’s PayPal PYUSD Token Launch

r/CryptoCurrencySee Post

Stablecoin Deposits on Maker Soar as DAI Interest Rates Hit 8% - Decrypt

r/CryptoCurrencySee Post

a16z has finished selling MKR - DAI depeg next?

r/CryptoCurrencySee Post

How fiat money works and why Crypto is better

r/CryptoCurrencySee Post

It's January 1st, 2023 and you decided to put 100 $ in the Top 10 Cryptos and 20$ in the late 50 Cryptos of the top 100, How would your investment be right now? And What would make the best return?

r/CryptoCurrencySee Post

MakerDAO Looks to Ignite Growth for $4.6B DAI Stablecoin With Up to 8% Reward

r/CryptoCurrencySee Post

Best place for single sided realyield on ETH, ARB or OP?

r/SatoshiStreetBetsSee Post

SpoolFi V2: The new face of institutional-grade Defi

r/CryptoCurrencySee Post

What is ETH blockchain liquidity mining? How to participate?

r/CryptoCurrencySee Post

Stablecoins - are they safe? Is all the USDT FUD deserved? [NO MOONS]

r/CryptoCurrencySee Post

Stablecoins - are they safe? Is all the USDT FUD deserved? [SERIOUS 2] [NOMOONS]

r/CryptoCurrencySee Post

Recently, Multichain was hacked for $100+ million. Now, the missing USDC and USDT funds have been frozen. What do people think comes next?

r/CryptoCurrencySee Post

Some interesting & less known chart knowledge you can use [NO MOONS] [SERIOUS2]

r/CryptoCurrencySee Post

There and back again, how an extremely profitable trade turned into a worthless pile of dust.

r/CryptoCurrencySee Post

The eternal mystery of Coinbase's hidden fees. Is it all just a scam?

r/CryptoCurrencySee Post

As DAI to ETH liquidity ratio on lending platform AAVE increasingly one sided, DAI borrow rate reaches -18% in negative interest, perversely rewarding borrowers and opening a myriad of profitable strategies for traders.

r/CryptoCurrencySee Post

Stablecoins: do they make sense? Which one is the most trustworthy?

r/CryptoCurrencySee Post

Something going on with USDT?

r/CryptoCurrencySee Post

MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve

Mentions

Here is a simplification to a complex subject. It really depends on which stablecoin we are talking about. For something like USDC, it is fully centralized to a company - Circle. A US business can register to their website and, after verification, can then deposit US dollars into a Circle bank account. Once the dollars are received and financial crime checks are completed, Circle will create “mint” the USDC tokens on one of the ledgers they support, such as Ethereum or many others, into a custodial wallet that the business has with Circle. The business may then withdraw those tokens by sending them to any wallet on that ledger - either owned by them or by anyone else in a pseudo-anonymous manner (it’s all public). If any crimes are found and sanctioned by the government, Circle will add the sanctioned addresses to a deny list which will freeze the funds from transferring. If the address is removed from the sanction, Circle can remove the address and the tokens can then freely transfer again. If the company receives any USDC tokens back into the Circle custody wallet, they may request Circle to withdraw the money to their bank account. Circle will then wire the money to the bank account and “burn” the tokens. But the real magic is what Circle does when they receive dollars. Circle knows that the dollars they receive will likely sit for awhile until customers come back to withdraw. As such, they can place funds in U.S. treasuries which can generate yield - currently over 5% a year. This is how they generate substantial profit. If many customers come back to cash out their stablecoins, it may put a lot of durational risk on the financial institution left holding the U.S. treasuries. Many other stablecoin providers have similar, different approaches ranging from algorithmic baskets of items to outright fraud or scams. For this reason, it is important to see how and where they operate and with which licenses if any they may require depending on the nature of the underlying assets. Some stablecoins, such as DAI, have no deny list and are algorithmic in nature with over collaboration of underlying assets. This allows them to have the best stability, but may prove challenging to regulate — but behave nearly identical to cash but with digital qualities.

Mentions:#USDC#DAI

Correct DAI is a soft peg, meaning it will fluctuate slightly. I think their target is within 1% IIRC. If DAI price is too low, people can buy up dai on the open market and trade it for the underlying collateral in the MakerDAO ecosystem. If DAI price is too high, people can lock up collateral and mint new DAI to sell on the open market. The system is driven by economic incentives and game theory assuming rational actors will seek profit.

Mentions:#DAI

Depends, there are different types of stablecoins. Not sure why you'd choose to ask on reddit tbh. There are many good YouTube videos explaining it, or you can read through the official documentation of those stablecoins. Backed stablecoins https://tether.to/en/how-it-works Soft-pegged stablecoins (See 'The DAI Stablecoin' section) https://makerdao.com/en/whitepaper Over-collateralized Seigniorage stablecoins (See 'Frax V3 Overview') https://docs.frax.finance/ There were attempts of algorithmic stablecoins that minimize the need for human input, also attempts of under-collateralized stablecoins (credit stablecoins), but they were unsuccessful so far Whiteboard Crypto made a very good video about stablecoins https://youtu.be/pGzfexGmuVw?si=m8Ey3wXFaRV2U9mR

Mentions:#DAI

There are two types. Algorithmic like UST (these are terrible) Pegged to assets DAI (pegged to crypto)  https://makerdao.com/en/whitepaper#introduction “Fiat” pegged stablecoins like USDC/Tether https://www.investopedia.com/terms/t/tether-usdt.asp Fiat ones are actually not 1:1. They print based off of market need. They are actually just certificates of deposits as they are primarily backed by Treasuries, bonds, etc They are also NEVER audited (they do “attestations” so no one ever knows if they’re actually 1:1 Finally, stablecoin issuers have agreements with banks and pay a fee to issue to the bank to issue the stablecoin

Mentions:#DAI#USDC

Good stuff. I forgot about DAI. I actually own some from a while back, the first time I had heard of a stablecoin actually.

Mentions:#DAI

At the moment, it's more like, because they (Circle and Tether) say so. They've been audited by certain companies yes but their reports are long and tedious so good luck. To be honest, I take those reports with a heap of salt. We all remember Alameda Research. Here's some reading material for you: Circle: https://www.theblock.co/learn/251863/what-is-usdc-and-how-does-it-work-a-guide-to-circles-stablecoin Tether: https://www.nasdaq.com/articles/tethers-audit-report-reveals-over-%242.8-billion-in-bitcoin-holdings I tried searching for DAI but didn't get anything suitable to post so maybe someone else might be better at research than me.

Mentions:#DAI

With something like DAI my layman understanding was that the interest rates try to control that. If it's trading higher than a dollar then they can lower interest rates to promote increasing the supply. If they need to reduce supply then they can increase the interest rate so that less people want to pay it and they repay their loan.

Mentions:#DAI

#TRON Pro-Arguments Below is a TRON pro-argument written by a deleted user. > ##**PROs** > > **Disclaimer**: There is little reliable information about Tron that isn't from Tron DAO or Justin Sun interviews. The official [Tron DAO Medium](https://trondao.medium.com/) site doesn't provide links to sources in the blog, making it harder to fact check and analyze. Many of its sources are from Weibo posts that are inaccessible beyond the Great Firewall of China. Tron's documentation and community posts provide way less information than that of other major blockchain projects. Nevertheless, I'm make do with what I can get. > > ####**Performance and Consensus** > > **High throughput and fast finality** > > Blocks are produced every 3s with a max size of 2M bytes. Consensus is completed using DPoS with a fault tolerance of 70% (9/27) Super Respresentatives that act as validators. There are over 350 SR/validator candidates who vote on the 27 SRs each 6 hours. > > - **High Throughtput**: **Tron can reach a max throughput of 2600 TPS with full 2M blocks** and its current balance of actual transactions, which is really high for an EVM-compatible blockchain. > - My calculations used [Tronscan data](https://tronscan.org/#/blockchain/blocks): Basic TRX and token transfers use 250-500 Bandwidth. The current average bandwidth for each transaction is currently 298, which is not that much higher than the lower end for basic transactions. > - Each bandwidth is 0.850 bytes, so you can fit 7800 average transactions in a single 3s block. Tron officially claims that it can reach 2000 TPS, so they're giving a conservative estimate. > - Even filled with 350-550 bandwidth swaps for [SunswapV2Router02](https://tronscan.org/#/contract/TKzxdSv2FZKQrEqkKVgp5DcwEXBEKMg2Ax/transactions), that's 1400 TPS on the lower end. That's way faster swaps than [everything other than Algorand](https://medium.com/dragonfly-research/the-amm-test-a-no-bs-look-at-l1-performance-4c8c2129d581). > - The tradeoff is that consensus is highly centralized (only 27 validators), and that the validators have very high requirements like having 32 CPU cores and 64GB of memory. > - In comparison, Ethereum's Layer 1 in comparison, can only do ~15 TPS average (59 TPS for basic transfers, 7 TPS for Uniswap v3 swaps). > - **Fast Finality in 3s**: All 27 SRs are currently playing friendly with each other, so for all practical purposes, finality is in 3 seconds. (Deterministic finality occurs every 27 blocks, or 81 seconds). > > **Network Energy usage** > > Tron's estimated annual energy usage for 2022 is estimated to be 1.7 kWh, or the **energy usage of [15 average US households](https://decrypt.co/108115/tron-network-energy-use-matches-that-of-15-us-households-ccri-report)**. This puts it slightly lower than the consumption of Avalanche, Algorand, Cardano, and Solana's networks. Its carbon footprint is also 4x lower than the others. And it uses 100000x less energy than Bitcoin. > > ####**Ease of Basic Utility** > > **Transaction fees are covered for FREE by freezing TRX** > > Tron has a unique design for transaction fees instead of using gas. Transactions fees are divided into bandwidth (pays for data bytes) and energy (pays for computations). All transactions require bandwidth while only contracts need energy. > > The benefit is that you get **FREE bandwidth and energy by freezing TRX**, a process similar to staking. You currently receive about 28 energy and 1 bandwidth daily [per frozen TRX](https://tronstation.io/calculator). Basic smart contracts use 350 Bandwidth (requires freezing 330 TRX) and 14.7K energy (requires staking 520 TRX). At current TRX prices, **if you freeze $2500 worth of TRX, you could perform 100 free basic transactions daily**. In addition, each account receives [1.5 kb of bandwidth daily](https://developers.tron.network/docs/resource-model) (originally 5 kb) for free even without freezing TRX, which is good for ~5 transactions. Though I suspect users can abuse this by creating new accounts. > > Any transaction fees in excess of the free energy and bandwidth are burned. This is why TRX is **currently deflationary by ~0.3% annually** (excluding burns for the USDD minting process). > > **Settlement layer for Tether** > > According to Blockchain's [Sep 2022 interview with Justin Sun](https://podcasts.apple.com/us/podcast/exploring-tron-with-justin-sun-and-blockchain-com/id1536699961), **the original purpose of Tron was to act as a stablecoin settlement network and reserve network for Tether** (USDT). Sure enough, the bulk of DeFi on Tron's network deal with stablecoins. As of Sep 2022, [45% of Tether is now held on Tron](https://defillama.com/stablecoin/tether). And with Ethereum transaction fees being so high, Tron has become an attractive platform for USDT dApps. > > ####**DeFi Usages** > > **Smart Contracts** > > Tron's VM (TVM) is EVM-compatible and uses Solidity for the smart contract language. It is also Turing-complete. Thus, it's simple to rewrite EVM contracts for TVM. > > - **Tron's [DeFi TVL is massive at $5.4B](https://defillama.com/chains), putting at 3rd place after Binance Smart Chain**. > - Though it is a bit suspicious though that 99% of Tron's DeFi TVL are on 3 projects that are literally named after Justin Sun, though that could just be because it's very new. In comparison, Ethereum's DeFi is spread over hundreds of dApps. > - Tron SUN's [Liquidity Pool](https://sun.io/#/home) provides very high interest for USDD-USDT pairs at 5-70% APY. Back in June-July, you could gain triple-digit APY on Tron DeFi with stablecoins while the governance rewards boosts were still active. > > ####**Sustainable Tokenomics for TRX** > > - TRX's tokenomics have a steady, permanent issuance for validators, so it's **sustainable**. All transaction fees are burned. This isn't too different than Ethereum's tokenomics model (other than that Ethereum only burns part of the fee). > - TRX has a total circulating supply of about 92B, which is noticeably lower than their highest supply of 102B before the TRX-to-USDD minting protocol. TRX suddenly became [deflationary on Oct 27, 2021](https://tronscan.org/#/data/stats2/circulation). Supply has fallen about 10% since then due to token burns, making **TRX one of the most deflationary cryptocurrency in the top 30**. > - If we ignore the token burns from USDD minting, each day, ~5M TRX is minted, ~6M is burned (from transaction fees). **This gives net issuance of 1M TRX burned daily, or 0.3% annual deflation.** > > **Good TRX price action during the bear market** > > Tron's native token, TRX, is currently #15 in marketcap as of Sept 2022 with a [marketcap of $6B](https://www.coingecko.com/en/coins/tron). Its value has held up surprisingly well during the bear market, barely falling 50% while the rest of cryptocurrencies fell closer to 70-90%. **TRX is up 2x vs Bitcoin over the past year** during the bear market, pumping especially hard right around the launch of USDD and introduction of major staking and governance boost projects. > > ####**USDD, a hybrid stablecoin without UST's flaws?** > > **USDD is a hybrid collateralized/algorithmic (seigniorage) stablecoin** launched in May 2022 on Tron's network. It is one of the biggest focuses on the Tron roadmap. It was originally designed as a purely-algorithmic stablecoin based on Terra's now-failed Luna and UST stablecoin. After the collapse of Luna UST, the Tron DAO Reserve (TDR) made several changes to USDD to avoid a similar failure: > > **Differences between UST and USDD** > > 1. The biggest difference is that USDD is 300% collateralized with 11B TRX, 14K BTC, 100M USDT, and 1M USDC [Source](https://usdd.io/). **This makes USDD one of the most collateralized stablecoins.** In comparison, DAI is only 120% collateralized, and USDT and USDC are only 100% collateralized. > 1. TDR controls how much USDD can be minted or redeemed, so it's not purely algorithmic. Thus, TDR has full power to stop it from crashing. > 1. USDD will be released in multiple phases. The current phase only allows for a minting of 2B USDD. This is to limit USDD from growing astronomically quickly like with UST. [[Source](https://trondao.medium.com/improving-usdd-from-lessons-learned-e2600d7f94ad)] > 1. You're probably wondering what's the catch. There is a Peg Stability Module (PSM) that allows minting of USDD by burning TRX. You can current burn TRX for minting USDD, but **you cannot redeem USDD for TRX** [[source](https://twitter.com/TheImmutable/status/1536930692344401921)]. There is no liquidity on any of the [PSM smart contracts](https://docs.usdd.io/psm/the-psm#psm-contracts) to trade USDD for anything else. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_tron) to find submissions for other topics.

i dont "take profits," necessarily. I ride it up to a good point & then I convert it to DAI stable coin. Then i rebuy more when it crashes. Its not an exact science but it has allowed me to stack a lot more btc from $ already previously invested. I have been around since 2016 & I see the pattern and one could theoretically ride every wave, sell at or near the high, convert to a stable, wait out the 60%-80% correction, rebuy a lot more at or near the bottom.

Mentions:#DAI

DAI/USDT on QuickSwap has 12%. They also have single coins but I can't see the apy currently

Mentions:#DAI#USDT

Coinbase seems ok with bitcoin and eth, but beware any low market cap coins like IOTA or LRC. They screw up on these often. They did on my DAI transfer.

Mentions:#IOTA#LRC#DAI

tldr; Request Finance reported over $54M in crypto payment value for January 2024. The platform saw 1,055 new signups, bringing the total registered accounts to 33,585. Monthly active users were 1,974, and 2,298 crypto payments were made. Since January 2021, over $627 million in crypto payments have been processed through Request Finance. The top 5 cryptocurrencies used were USDC, USDT, SAND, ANKR, and DAI, and the top chains were Ethereum, BNB Chain, Polygon, Celo, and Near. The report highlights the platform's growth and user engagement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

But what if you are already decided to hodl ETH anyways? What risk would there be to be in like ETH/DAI on Uniswap V2?

Mentions:#ETH#DAI

It's like most markets; the best places like USDC/DAI pairings, are saturated and the edge is whittled away. You can probably earn some decent passive income from LPing there, but to make more you simply have to take on more risk like on a dollar-crypto pairing.

Mentions:#USDC#DAI

Crypto is cool, but let’s think of some other non mail options. Venmo, you can hold a balance in there and pay all through the app with everything on private. There is also PayPal Crypto is cool but I worry about you not understanding about keys and being self custodial, phishing schemes. Aka you can do it, just read about it A LOT. As far as your concern about usdt though, I think you’ll be fine. Don’t keep your life savings in it though. Maybe split it between usdc and DAI? Or perhaps you keep the rest of the money in bitcoin for money that you won’t spend in the next two weeks.

Mentions:#DAI

USDC and DAI are NOT Luna or UST, at all, and that’s the whole damn point. Plenty of people said don’t TOUCH THOSE, there’s nothing but spaghetti under the hood, but retail folk do no real basic research to be critical evaluators of one coin over another. They go on YouTube and do a Lemming

Mentions:#USDC#DAI

USDC or DAI are good options as well, some say USDT is not fully backed by real USD … but who knows?

Also DAI is (was? Didn’t keep up) strongly backed by USDC so might as well go USDC straight away

Mentions:#DAI#USDC

Get Ledger, diversify into USDT, USDC and DAI

I would have your income split between USDT, USDC, and DAI. Why limit yourself to one stable?

the issuer of USDT is incredibly centralised and retains the right to freeze your funds (though this is usually associated with the proceeds of crime but still). They also have an incredibly shady past and are the subject of multiple investigations past and present. There's DAI - though personally I'd just avoid stable coins but your use-case is unusual. Also whatever exchange you join - if you're not planning to actually transfer into self custody - you can just hold is fiat currency on the exchange.

Mentions:#USDT#DAI

USDT has been too evasive about holdings and backings. It isn't regulated. I just see now reason to use it given there are alternatives. If you want a decentralized solution then DAI. If you want a strongly regulated and audited solution then USDC.

DAI or USDC would be my top two choices.

Mentions:#DAI#USDC

Hello! Thank you for patiently sticking with us throughout the investigation, and please pardon the necessary bureaucracy — it is indeed a complicated legal case. We’re glad to inform you that the refund request for your 5,000 DAI is already in progress. Please keep in mind that such refunds aren’t made without a bit of bureaucracy as well, so bear with us in the meantime, we will make sure to keep things at a fast pace. Since you’re already in contact with our AML/KYC Compliance department, don’t hesitate to ask them for updates on the status of your refund: they work 24/7 and will happily keep you posted.

Mentions:#DAI

I will give you $10k when either USDC, USDT or DAI go below $0.90. In return you will give me $10 every day as long as they don't. Deal? No? Sounds shitty? That's because it's a shitty deal. And that's what your risk profile looks like.

I will give you $10k when either USDC, USDT or DAI go below $0.90. In return you will give me $10 every day as long as they don't. Deal? No? Sounds shitty? That's because it's a shitty deal. And that's the whole downside I'd be getting by staking these three.

I will give you $10k when either USDC, USDT or DAI go below $0.90. In return you will give me $10 every day as long as they don't. Deal? No? Sounds shitty? That's because it's a shitty deal. But you're already in this shitty deal by missing out on stablecoin APY.

I will give you $10mil when either USDC, USDT or DAI go below $0.90. In return you will give me $10 every day as long as they don't. Deal?

Curious why DAI isn't on top. Isn't it the only decentralized one? I never understood why TUSD came out on top, but I supposed they had a first mover advantage.

Mentions:#DAI#TUSD

Market makers are in the business of trading on the bid and ask to collect the spread between them. They are not in the business of operating stablecoins. There are other stablecoins out there: USDC, DAI, TUSD, FDUSD. No one uses them unless they are liquid enough to be useful. Tether happens to have most of the liquidity and pricing prevalence. It's a first mover advantage + people pulled out of USDC due to SVB exposure + BUSD is effectively shut down. Tether simply lasted longer.

You sent DAI and was expecting lnbtc in return right? I assume that you gave a normal btc address instead of a Lightning one. I think it’s not lost as the transaction probably didn’t go through from their end.

Mentions:#DAI

DAI

Mentions:#DAI

Fair enough we were considering different risks. Yeah DAI is pretty censor resistant. An exchange could refuse to do business with you but the protocol itself couldn't freeze coins.

Mentions:#DAI

DAI has huge amounts of USDC in the maker vaults. If USDC collapsed then the assets backing DAI would collapse to less than a dollar so DAI would collapse. USDC is solid. Saying I don't trust it because coinbase is following regulations is just silly.

Mentions:#DAI#USDC

i don't trust circle. Coinbase is way to deeply entwined with TradFi and regulations. I generally think stable coins are stupid and in general scammy. The occasional times i use them i use DAI. i definitely wouldn't say i trust DAI. But it does seem to be the only major "probably not evil" stable coin.

Mentions:#DAI

DAI and UDSC are the only ones I trust.

Mentions:#DAI

With DAI you already can.

Mentions:#DAI

We have everything in Bitcoin since 2017. Cashed in our IRAs, sold our house and all our income since then has been DCA'd into bitcoin. We live in a small apartment (when we aren't travelling) and nobody knows we are multimillionaires. We sell what we need to for living expenses into USDC, USDT, DAI then spend that with coinbase and crypto.com debit cards. Will HODL as much and for as long as we can.

There are wallets with 500m of DAI sitting on the blockchain. At the end of the day if ur careful parking your coins onchain is safer than a CEX

Mentions:#DAI#CEX

Pffft. DAI is decentralized, USDC is not. Then again, dont be one of those who thinks that any other crypto you hold would not be affected if USDT turns out to be a scam.

I mean... almost everything is going down as well. I don't know if it's anything season. Crypto was running crazy hot. It's probably "cool off" season. *USDC/USDT/DAI* season. As for buying ETH... sure. Why not? Buying other alts... the only stuff I'm familiar with is defi related. Some of the tokens I look at (mostly L1s and oracles) are still active and still ranked well on TVL (defillama.com) and haven't had insane 4X+ run ups yet. If I really believed in them, maybe I'd buy more of those and less/none of the stuff that's had a crazy run and is probably due for a big correction. Perspective and personal experience is everything. I bought some SOL when it was $10 and AVAX when it was $12. Not because I have long term belief in them but because I knew they were like actual legit projects with legit ecosystems and this seemed like a good deal on some *buy this for the point of dumping* post-BTC halving when we're fully in a bull market. I bought some TIA on a whim when it was $2.50. For me, it would be hard to buy more of them now when they've had these insane runups. I never had like ultimate belief in them, they just seemed like good deals at the time. Now they *feel* like they're super hot and due for a kinda brutal correction, but who knows?

Yea just asked and testnet is down for >2 weeks while the big update is being released. Just gotta practice yeet 150x lev with real DAI until then.

Mentions:#DAI

Hey mate. So actually they are releasing a huge update allowing ETH and USDC as collateral, So the testnet may not function properly for the next 2 weeks as the devs are using it. Sorry bout that. But the update is massive and allows trading with ETH or USDC (as well as DAI) directly from your wallet. Hopefully testnet is up again soon.

Mentions:#ETH#USDC#DAI

Use gTrade. No KYC, No deposit, trade directly from your wallet using DAI stablecoin. They have a testnet where you can practice for free But careful with leverage bro.

Mentions:#DAI

I understand your viewpoint. However, consider what activities people are engaging in on a L2 platform. For instance, if you're aiming to earn passive income as a Liquidity Provider (LP) with an ETH-stablecoin pairing, accumulating as much ETH as possible becomes a priority. Or, if you're looking to borrow against ETH on a lending platform, such as Aave or Compound, again, the accumulation of ETH is key. Consider also the minting of LUSD, DAI, or other Ethereum-backed assets, which necessitates ETH. Even for purchasing NFTs, which are predominantly priced in ETH, the demand for Ethereum remains strong. Furthermore, reflect on the profile of users who engage with L2s like Arbitrum or Optimism. Such users are inclined to accumulate Ethereum, similar to how Bitcoin enthusiasts hoard BTC. Moreover, a proliferation of L2s being actively used signals Ethereum's exponential expansion. Developers could have opted to create independent chains separate from Ethereum, yet they chose to integrate into the Ethereum ecosystem. This decision underlines their confidence in Ethereum's robustness and potential. It’s likely that users will experiment with various L2s and side-chains, such as Polygon, further necessitating Ethereum. To utilize these diverse systems, Ethereum remains a fundamental requirement. So, while individual transactions on L2s might require less ETH than on the main chain, the overall expansion and diversification within the Ethereum ecosystem suggest a sustained, if not increased, demand for Ethereum.

#TRON Pro-Arguments Below is a TRON pro-argument written by a deleted user. > ##**PROs** > > **Disclaimer**: There is little reliable information about Tron that isn't from Tron DAO or Justin Sun interviews. The official [Tron DAO Medium](https://trondao.medium.com/) site doesn't provide links to sources in the blog, making it harder to fact check and analyze. Many of its sources are from Weibo posts that are inaccessible beyond the Great Firewall of China. Tron's documentation and community posts provide way less information than that of other major blockchain projects. Nevertheless, I'm make do with what I can get. > > ####**Performance and Consensus** > > **High throughput and fast finality** > > Blocks are produced every 3s with a max size of 2M bytes. Consensus is completed using DPoS with a fault tolerance of 70% (9/27) Super Respresentatives that act as validators. There are over 350 SR/validator candidates who vote on the 27 SRs each 6 hours. > > - **High Throughtput**: **Tron can reach a max throughput of 2600 TPS with full 2M blocks** and its current balance of actual transactions, which is really high for an EVM-compatible blockchain. > - My calculations used [Tronscan data](https://tronscan.org/#/blockchain/blocks): Basic TRX and token transfers use 250-500 Bandwidth. The current average bandwidth for each transaction is currently 298, which is not that much higher than the lower end for basic transactions. > - Each bandwidth is 0.850 bytes, so you can fit 7800 average transactions in a single 3s block. Tron officially claims that it can reach 2000 TPS, so they're giving a conservative estimate. > - Even filled with 350-550 bandwidth swaps for [SunswapV2Router02](https://tronscan.org/#/contract/TKzxdSv2FZKQrEqkKVgp5DcwEXBEKMg2Ax/transactions), that's 1400 TPS on the lower end. That's way faster swaps than [everything other than Algorand](https://medium.com/dragonfly-research/the-amm-test-a-no-bs-look-at-l1-performance-4c8c2129d581). > - The tradeoff is that consensus is highly centralized (only 27 validators), and that the validators have very high requirements like having 32 CPU cores and 64GB of memory. > - In comparison, Ethereum's Layer 1 in comparison, can only do ~15 TPS average (59 TPS for basic transfers, 7 TPS for Uniswap v3 swaps). > - **Fast Finality in 3s**: All 27 SRs are currently playing friendly with each other, so for all practical purposes, finality is in 3 seconds. (Deterministic finality occurs every 27 blocks, or 81 seconds). > > **Network Energy usage** > > Tron's estimated annual energy usage for 2022 is estimated to be 1.7 kWh, or the **energy usage of [15 average US households](https://decrypt.co/108115/tron-network-energy-use-matches-that-of-15-us-households-ccri-report)**. This puts it slightly lower than the consumption of Avalanche, Algorand, Cardano, and Solana's networks. Its carbon footprint is also 4x lower than the others. And it uses 100000x less energy than Bitcoin. > > ####**Ease of Basic Utility** > > **Transaction fees are covered for FREE by freezing TRX** > > Tron has a unique design for transaction fees instead of using gas. Transactions fees are divided into bandwidth (pays for data bytes) and energy (pays for computations). All transactions require bandwidth while only contracts need energy. > > The benefit is that you get **FREE bandwidth and energy by freezing TRX**, a process similar to staking. You currently receive about 28 energy and 1 bandwidth daily [per frozen TRX](https://tronstation.io/calculator). Basic smart contracts use 350 Bandwidth (requires freezing 330 TRX) and 14.7K energy (requires staking 520 TRX). At current TRX prices, **if you freeze $2500 worth of TRX, you could perform 100 free basic transactions daily**. In addition, each account receives [1.5 kb of bandwidth daily](https://developers.tron.network/docs/resource-model) (originally 5 kb) for free even without freezing TRX, which is good for ~5 transactions. Though I suspect users can abuse this by creating new accounts. > > Any transaction fees in excess of the free energy and bandwidth are burned. This is why TRX is **currently deflationary by ~0.3% annually** (excluding burns for the USDD minting process). > > **Settlement layer for Tether** > > According to Blockchain's [Sep 2022 interview with Justin Sun](https://podcasts.apple.com/us/podcast/exploring-tron-with-justin-sun-and-blockchain-com/id1536699961), **the original purpose of Tron was to act as a stablecoin settlement network and reserve network for Tether** (USDT). Sure enough, the bulk of DeFi on Tron's network deal with stablecoins. As of Sep 2022, [45% of Tether is now held on Tron](https://defillama.com/stablecoin/tether). And with Ethereum transaction fees being so high, Tron has become an attractive platform for USDT dApps. > > ####**DeFi Usages** > > **Smart Contracts** > > Tron's VM (TVM) is EVM-compatible and uses Solidity for the smart contract language. It is also Turing-complete. Thus, it's simple to rewrite EVM contracts for TVM. > > - **Tron's [DeFi TVL is massive at $5.4B](https://defillama.com/chains), putting at 3rd place after Binance Smart Chain**. > - Though it is a bit suspicious though that 99% of Tron's DeFi TVL are on 3 projects that are literally named after Justin Sun, though that could just be because it's very new. In comparison, Ethereum's DeFi is spread over hundreds of dApps. > - Tron SUN's [Liquidity Pool](https://sun.io/#/home) provides very high interest for USDD-USDT pairs at 5-70% APY. Back in June-July, you could gain triple-digit APY on Tron DeFi with stablecoins while the governance rewards boosts were still active. > > ####**Sustainable Tokenomics for TRX** > > - TRX's tokenomics have a steady, permanent issuance for validators, so it's **sustainable**. All transaction fees are burned. This isn't too different than Ethereum's tokenomics model (other than that Ethereum only burns part of the fee). > - TRX has a total circulating supply of about 92B, which is noticeably lower than their highest supply of 102B before the TRX-to-USDD minting protocol. TRX suddenly became [deflationary on Oct 27, 2021](https://tronscan.org/#/data/stats2/circulation). Supply has fallen about 10% since then due to token burns, making **TRX one of the most deflationary cryptocurrency in the top 30**. > - If we ignore the token burns from USDD minting, each day, ~5M TRX is minted, ~6M is burned (from transaction fees). **This gives net issuance of 1M TRX burned daily, or 0.3% annual deflation.** > > **Good TRX price action during the bear market** > > Tron's native token, TRX, is currently #15 in marketcap as of Sept 2022 with a [marketcap of $6B](https://www.coingecko.com/en/coins/tron). Its value has held up surprisingly well during the bear market, barely falling 50% while the rest of cryptocurrencies fell closer to 70-90%. **TRX is up 2x vs Bitcoin over the past year** during the bear market, pumping especially hard right around the launch of USDD and introduction of major staking and governance boost projects. > > ####**USDD, a hybrid stablecoin without UST's flaws?** > > **USDD is a hybrid collateralized/algorithmic (seigniorage) stablecoin** launched in May 2022 on Tron's network. It is one of the biggest focuses on the Tron roadmap. It was originally designed as a purely-algorithmic stablecoin based on Terra's now-failed Luna and UST stablecoin. After the collapse of Luna UST, the Tron DAO Reserve (TDR) made several changes to USDD to avoid a similar failure: > > **Differences between UST and USDD** > > 1. The biggest difference is that USDD is 300% collateralized with 11B TRX, 14K BTC, 100M USDT, and 1M USDC [Source](https://usdd.io/). **This makes USDD one of the most collateralized stablecoins.** In comparison, DAI is only 120% collateralized, and USDT and USDC are only 100% collateralized. > 1. TDR controls how much USDD can be minted or redeemed, so it's not purely algorithmic. Thus, TDR has full power to stop it from crashing. > 1. USDD will be released in multiple phases. The current phase only allows for a minting of 2B USDD. This is to limit USDD from growing astronomically quickly like with UST. [[Source](https://trondao.medium.com/improving-usdd-from-lessons-learned-e2600d7f94ad)] > 1. You're probably wondering what's the catch. There is a Peg Stability Module (PSM) that allows minting of USDD by burning TRX. You can current burn TRX for minting USDD, but **you cannot redeem USDD for TRX** [[source](https://twitter.com/TheImmutable/status/1536930692344401921)]. There is no liquidity on any of the [PSM smart contracts](https://docs.usdd.io/psm/the-psm#psm-contracts) to trade USDD for anything else. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_tron) to find submissions for other topics.

If any of you are hunting OP rewards, the [pooltogether](https://pooltogether.com/) V5 is giving pretty decent rewards. The two portals are [PoolTime](https://pooltime.app/vaults) & [Cabana](https://app.cabana.fi/vaults), which show the current reward rates. I just have a *very small* amount of weth & dai deposited with them. It seems I'm earning 17.6% on the weth & 37.5% on the DAI, in optimism rewards. Of course, that's until a whale adds liquidity.

Mentions:#OP#DAI

The only decentralized stablecoin is DAI.

Mentions:#DAI

tldr; Orbit Chain, a cross-chain project, was hacked on New Year's Eve, resulting in the loss of approximately $81 million. The hackers gained access to seven out of ten multisig signers, allowing them to steal various cryptocurrencies including USDT, USDC, DAI, WBTC, and ETH. Following the hack, the price of Orbit Chain's native token, ORC, dropped by nearly 20%. The project is investigating the breach and working with international law enforcement. Additionally, scammers are attempting to exploit the situation by impersonating Orbit Chain for phishing scams. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

tldr; Orbit Bridge, a service of the cross-chain protocol Orbit Chain, was exploited for $82 million. The exploit was highlighted by a Twitter user and confirmed by blockchain analytics platform Arkham Intelligence. Hackers transferred $30 million in USDT, $10 million in USDC, 9,500 ETH, 231 WBTC, and $10 million in DAI to new wallets. The nature of the exploit is currently unknown, and Orbit Chain has not yet commented on the incident. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

From what understand, switching crypto is a taxable event in the usa. It's not in mine thankfully. But even so i still dont fully trust exchanges so i only cash out when i want to. Otherwise i use swapping sites to switch to DAI to 'hold'. So basically if you use your own wallet and not an exchange there's no taxable event 'on paper'. You have quite a substantial amount of coin though so you'd be a fool to change it all at once so you'd have to weigh up the pros and cons of doing it incrementally.

Mentions:#DAI

>stable coins don’t have decentralized networks of their own, But stable coins can be built on a decentralized network and be a decentralized stable coins. For example Ethereum and DAI. >LTC is to some extent valued by its network, which is independent, mineable and there are no major owners etc. So does every other Blockchain

Mentions:#DAI#LTC

tldr; Gabor Gurbacs, an advisor to Tether, predicts that stablecoins will become a multi-trillion-dollar market, surpassing the growth of ETFs. The stablecoin market, led by USDT, USDC, DAI, and TrueUSD, is currently valued at over $130 billion. Gurbacs highlights stablecoins' low fees, easy access, and real-world applicability as reasons for their potential to disrupt traditional finance. Eddie Yue of the HKMA also sees stablecoins as a bridge between traditional finance and crypto, emphasizing their role in digital payments. Despite past volatility, the market has recovered significantly, with Tether's USDT dominating. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Yes, they do. Also watch Tether and other stables (Dai) when they sell off. I think because ETH is pumping today, people are stacking stables (Tether), so something like DAI is a better indicator of selling off taking place outside of ETH.

Mentions:#ETH#DAI
r/BitcoinSee Comment

DAI.

Mentions:#DAI
r/CryptoCurrencySee Comment

You definitely do not need a super computer lmao. I run an arb bot that utilizes FlashLoans. It deploys a smart contract that takes a FlashLoan and performs a double swap between Uniswap V3 and Sushiswap. I have a script that runs 24/7 on a dedicated server searching for arbitrage opportunities, once an opportunity is found, another script calls the smart contract function to execute the dual swap. I’m able to borrow large amounts of DAI ($100k+), which is the only way to make this strategy profitable, and repay within the same block.

Mentions:#DAI
r/CryptoCurrencySee Comment

You keep bringing up Luna’s UST as though it’s comparable to CDPs like DAI or LUSD when they’re clearly different. Anyone who did proper research on how Luna’s UST worked would taken pause. Even now you’re expecting to be spoonfed information which isn’t even unexpected since your criterion for a scam is that “you haven’t heard of it before”. lol…

Mentions:#DAI#LUSD
r/CryptoCurrencySee Comment

OK, well then why didn't they just fork Maker code? Most coins are scams, most new stablecoins forking it is a negative in my book. Why is it most new stablecoins want to use their code over tried and true MakerDAO? And why would I need another stablecoin when DAI exists? What's the selling point that led to this 700M total value locked? How has it been so successful and I, who prowl this community daily, never heard of it? Sounds like a scam to me.

Mentions:#DAI
r/CryptoCurrencySee Comment

Nah. That was an algorithmic stablecoin who collateral was entirely endogenous. It didn’t matter what its TVL was. It was bound to fail when the ponzi stopped. If you’re comfortable with using DAI, then LUSD isn’t that different. It’s overcollateralised by ETH. Obviously, if you’re not touching defi stablecoins then neither are good.

Mentions:#DAI#LUSD#ETH
r/CryptoCurrencySee Comment

lmao. Liquity isn’t a scam, they have over 700m TVL and most newish stablecoins are even forks of Liquity. They operate in similar fashion to DAI in that they are a overcollateralised stablecoin CDP.

Mentions:#DAI
r/CryptoCurrencySee Comment

MakerDAO gives you what's called leverage. You lock up your ETH, get back some percentage of it in DAI, and as long as you pay it back you get your ETH back, *unless the value of your ETH drops below the liquidation threshold.* The risk is that you get liquidated, that your DAI is stuck because you bought a shitcoin with it and are sitting on heavy bags, that the lending protocol you chose collapses or rug pulls or somehow you don't get it back. You're taking a risk losing your ETH in a drawdown for whatever interest you earn. Never heard of liquity. Probably a scam. Holding stablecoins to lend is absolutely not going to have the return that ETH and BTC will in a bull market, even if you don't get scammed out of your money. If you just want to do long term, just buy BTC or ETH or both and sit on it. If you want to get your feet wet in defi, I don't know how much capital you have and please don't tell me, take 10% of it and mess around if 10% is enough to where the fees don't eat you alive.

Mentions:#ETH#DAI#BTC
r/CryptoMarketsSee Comment

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Shippior. > [Polygon](https://polygon.technology/)(Ticker: [MATIC](https://www.coingecko.com/en/coins/polygon)) is an Ethereum Virtual Machine ([EVM](https://ethereum.org/en/developers/docs/evm/)). It is a sidechain from Ethereum for the solving the scaling problem that Ethereum has by offering faster and more cheap transactions by offering transaction to settle on the Polygon chain and to be later settled on the Ethereum chain. It was created in 2017 by an Indian based team as the Matic network and was later rebranded to Polygon. > > Polygon has a maximum supply of 10 billion tokens. The [total breakdown](https://www.coinbase.com/institutional/research-insights/research/tokenomics-review/polygon-matic-scaling-solutions#:~:text=Polygon's%20token%20MATIC%20is%20primarily,validator%20nodes%20to%20earn%20rewards.) of this supply is 19% Initial exchange offering, 16% to the team, 4% to advisors, 12% to staking rewards, 21.86% to the foundation and 23.33% for future investments in the ecosystem. This shows that there is a lot of funds available for development of the blockchain. This is also seen in the number of developers that chose to work on Polygon. The number of developers working on Polygon has grown to over 1100, which is 16x more than in [2018](https://twitter.com/theweb3sharma/status/1615592481047080961). > > Contrary to other blockchains, polygon is not just one blockchain but a number of blockchains under one hood, each of them focused on a different application. This allows Polygon to compete on several (almost all markets at the same time). It has prominent applications for DeFi, NFTs and [web3 gaming](https://techcrunch.com/2023/03/20/polygon-and-immutable-partner-to-help-onboard-more-gamers-and-developers-into-web3/). For instance it is at the moment a [very populair chain for NFTs] > (https://ambcrypto.com/polygons-nft-space-is-booming-as-trade-count-surges-thanks-to/) and many projects from other chains want to migrate to Polygon. At the moment it has roughly the same volume as [Solana, but both are still dwarfed by the NFT volume of ETH.]( > https://dune.com/rchen8/opensea) > > The most well-known DEXs on the Polygon chain are [Uniswap](https://app.uniswap.org/#/swap), [Quickswap](https://quickswap.exchange/#/) and [1Inch](https://app.1inch.io/#/137/simple/swap/MATIC/DAI). These are all very high profile DEXs. Because Polygon is based on Solidity, just like Ethereum, it is easy to implement it on a DEX that was originally built for Ethereum. This also helps the Polygon chain in general as contract or updates that are developped for Ethereum can be implemented with very little effort. Even if that was a problem, Polygon has currently the fastest growing [number of developers](https://dailyhodl.com/2023/01/19/polygon-cosmos-and-two-ethereum-rivals-have-surged-over-400-in-one-metric-says-crypto-firm/#:~:text=According%20to%20the%20report%2C%20Polygon,2%2C000%20and%20Solana%20about%202%2C250.). > > > Polygon has impressed several multinationals to host their web3 introductions. Starbucks has hosted their rewards program called [Starbucks Odyssey program](https://odyssey.starbucks.com/) on the chain. Reddit has chosen Polygon chain to host their [Avatar NFTs](https://decrypt.co/112783/reddit-nfts-surge-as-polygon-based-avatars-reach-millions-of-new-users) which has seen a large influx of new wallets for MATIC. > > Due to all the hype for MATIC it continues to grow. More than [11 million active wallets](https://polygon.technology/blog/polygon-insights-for-2022) were present in Q4 2022, an increase of 115% compared to Q4 2021. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

r/CryptoCurrencySee Comment

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Shippior. > [Polygon](https://polygon.technology/)(Ticker: [MATIC](https://www.coingecko.com/en/coins/polygon)) is an Ethereum Virtual Machine ([EVM](https://ethereum.org/en/developers/docs/evm/)). It is a sidechain from Ethereum for the solving the scaling problem that Ethereum has by offering faster and more cheap transactions by offering transaction to settle on the Polygon chain and to be later settled on the Ethereum chain. It was created in 2017 by an Indian based team as the Matic network and was later rebranded to Polygon. > > Polygon has a maximum supply of 10 billion tokens. The [total breakdown](https://www.coinbase.com/institutional/research-insights/research/tokenomics-review/polygon-matic-scaling-solutions#:~:text=Polygon's%20token%20MATIC%20is%20primarily,validator%20nodes%20to%20earn%20rewards.) of this supply is 19% Initial exchange offering, 16% to the team, 4% to advisors, 12% to staking rewards, 21.86% to the foundation and 23.33% for future investments in the ecosystem. This shows that there is a lot of funds available for development of the blockchain. This is also seen in the number of developers that chose to work on Polygon. The number of developers working on Polygon has grown to over 1100, which is 16x more than in [2018](https://twitter.com/theweb3sharma/status/1615592481047080961). > > Contrary to other blockchains, polygon is not just one blockchain but a number of blockchains under one hood, each of them focused on a different application. This allows Polygon to compete on several (almost all markets at the same time). It has prominent applications for DeFi, NFTs and [web3 gaming](https://techcrunch.com/2023/03/20/polygon-and-immutable-partner-to-help-onboard-more-gamers-and-developers-into-web3/). For instance it is at the moment a [very populair chain for NFTs] > (https://ambcrypto.com/polygons-nft-space-is-booming-as-trade-count-surges-thanks-to/) and many projects from other chains want to migrate to Polygon. At the moment it has roughly the same volume as [Solana, but both are still dwarfed by the NFT volume of ETH.]( > https://dune.com/rchen8/opensea) > > The most well-known DEXs on the Polygon chain are [Uniswap](https://app.uniswap.org/#/swap), [Quickswap](https://quickswap.exchange/#/) and [1Inch](https://app.1inch.io/#/137/simple/swap/MATIC/DAI). These are all very high profile DEXs. Because Polygon is based on Solidity, just like Ethereum, it is easy to implement it on a DEX that was originally built for Ethereum. This also helps the Polygon chain in general as contract or updates that are developped for Ethereum can be implemented with very little effort. Even if that was a problem, Polygon has currently the fastest growing [number of developers](https://dailyhodl.com/2023/01/19/polygon-cosmos-and-two-ethereum-rivals-have-surged-over-400-in-one-metric-says-crypto-firm/#:~:text=According%20to%20the%20report%2C%20Polygon,2%2C000%20and%20Solana%20about%202%2C250.). > > > Polygon has impressed several multinationals to host their web3 introductions. Starbucks has hosted their rewards program called [Starbucks Odyssey program](https://odyssey.starbucks.com/) on the chain. Reddit has chosen Polygon chain to host their [Avatar NFTs](https://decrypt.co/112783/reddit-nfts-surge-as-polygon-based-avatars-reach-millions-of-new-users) which has seen a large influx of new wallets for MATIC. > > Due to all the hype for MATIC it continues to grow. More than [11 million active wallets](https://polygon.technology/blog/polygon-insights-for-2022) were present in Q4 2022, an increase of 115% compared to Q4 2021. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

r/CryptoMarketsSee Comment

#Polygon Pro-Arguments Below is a Polygon pro-argument written by Shippior. > [Polygon](https://polygon.technology/)(Ticker: [MATIC](https://www.coingecko.com/en/coins/polygon)) is an Ethereum Virtual Machine ([EVM](https://ethereum.org/en/developers/docs/evm/)). It is a sidechain from Ethereum for the solving the scaling problem that Ethereum has by offering faster and more cheap transactions by offering transaction to settle on the Polygon chain and to be later settled on the Ethereum chain. It was created in 2017 by an Indian based team as the Matic network and was later rebranded to Polygon. > > Polygon has a maximum supply of 10 billion tokens. The [total breakdown](https://www.coinbase.com/institutional/research-insights/research/tokenomics-review/polygon-matic-scaling-solutions#:~:text=Polygon's%20token%20MATIC%20is%20primarily,validator%20nodes%20to%20earn%20rewards.) of this supply is 19% Initial exchange offering, 16% to the team, 4% to advisors, 12% to staking rewards, 21.86% to the foundation and 23.33% for future investments in the ecosystem. This shows that there is a lot of funds available for development of the blockchain. This is also seen in the number of developers that chose to work on Polygon. The number of developers working on Polygon has grown to over 1100, which is 16x more than in [2018](https://twitter.com/theweb3sharma/status/1615592481047080961). > > Contrary to other blockchains, polygon is not just one blockchain but a number of blockchains under one hood, each of them focused on a different application. This allows Polygon to compete on several (almost all markets at the same time). It has prominent applications for DeFi, NFTs and [web3 gaming](https://techcrunch.com/2023/03/20/polygon-and-immutable-partner-to-help-onboard-more-gamers-and-developers-into-web3/). For instance it is at the moment a [very populair chain for NFTs] > (https://ambcrypto.com/polygons-nft-space-is-booming-as-trade-count-surges-thanks-to/) and many projects from other chains want to migrate to Polygon. At the moment it has roughly the same volume as [Solana, but both are still dwarfed by the NFT volume of ETH.]( > https://dune.com/rchen8/opensea) > > The most well-known DEXs on the Polygon chain are [Uniswap](https://app.uniswap.org/#/swap), [Quickswap](https://quickswap.exchange/#/) and [1Inch](https://app.1inch.io/#/137/simple/swap/MATIC/DAI). These are all very high profile DEXs. Because Polygon is based on Solidity, just like Ethereum, it is easy to implement it on a DEX that was originally built for Ethereum. This also helps the Polygon chain in general as contract or updates that are developped for Ethereum can be implemented with very little effort. Even if that was a problem, Polygon has currently the fastest growing [number of developers](https://dailyhodl.com/2023/01/19/polygon-cosmos-and-two-ethereum-rivals-have-surged-over-400-in-one-metric-says-crypto-firm/#:~:text=According%20to%20the%20report%2C%20Polygon,2%2C000%20and%20Solana%20about%202%2C250.). > > > Polygon has impressed several multinationals to host their web3 introductions. Starbucks has hosted their rewards program called [Starbucks Odyssey program](https://odyssey.starbucks.com/) on the chain. Reddit has chosen Polygon chain to host their [Avatar NFTs](https://decrypt.co/112783/reddit-nfts-surge-as-polygon-based-avatars-reach-millions-of-new-users) which has seen a large influx of new wallets for MATIC. > > Due to all the hype for MATIC it continues to grow. More than [11 million active wallets](https://polygon.technology/blog/polygon-insights-for-2022) were present in Q4 2022, an increase of 115% compared to Q4 2021. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Polygon) to find submissions for other topics.

r/CryptoCurrencySee Comment

DAI is better.

Mentions:#DAI
r/CryptoCurrencySee Comment

People really need to stop parroting this misinformation. DAI USDC collateral is currently at 2.6%. https://daistats.com/#/

Mentions:#DAI#USDC
r/CryptoCurrencySee Comment

DAI!

Mentions:#DAI
r/CryptoCurrencySee Comment

I wish the crypto community had shifted to permissionless stablecoins already. Thing is, most people don’t know that these coins are under centralized control. Unlike USDC snd USDT, DAI cannot be frozen like this.

r/CryptoCurrencySee Comment

Do some research on these coin. They're quality projects with working products in the AI Narrative. $BSWAN (BlackSwanAI), $FAKEAI (DEEPFAKEAI), $NAAI (NeoAuditAI), and $2DAI Again, DYOR. Look at charts as well to get a technical view and only then buy.

r/CryptoCurrencySee Comment

> RWAs Those RWA are treasuries held in US banking institutions. They will be subject to the same issues. Except if I'm correct, DAI has no freezing assets. Sounds nice on paper but the reality is that the nuclear asset of the government ordering their assets be frozen is the *only* option. They can't just freeze the address and keep it moving for every other DAI holder.

Mentions:#DAI
r/CryptoCurrencySee Comment

ah thanks for the link, good to get educated on this. that was my only concern with DAI.

Mentions:#DAI
r/CryptoCurrencySee Comment

No its not, DAI is mostly backed by ETH and RWAs. They WERE almost 50% backed by USDC but have reduced that number to 23.6% back in May.

Mentions:#DAI#ETH#USDC
r/CryptoCurrencySee Comment

DAI is mostly backed by USDC and USDT though iirc. whats to stop them from freezing all the tether backing it?

r/CryptoCurrencySee Comment

DAI is what you want for a stablecoin without a blacklist.

Mentions:#DAI
r/CryptoCurrencySee Comment

Bro thats what I’ve been saying, I feel like no one is talking about DAI

Mentions:#DAI
r/CryptoCurrencySee Comment

DAI is the most solid, battle tested and totally decentralized stable coin.

Mentions:#DAI