MakerDAO announced the launch of their Dai stablecoin on the 18th of December after over two and a half years of development.
What is the Dai?
Dai is a new stablecoin that was developed to help design a new decentralised digital global economy.
For those who are unfamiliar with the concept of stablecoins, a stablecoin is a cryptocurrency that is pegged to a fiat currency – such as the U.S. dollar. The most well-known stablecoin is of course Tether, which runs as a token on the Omni blockchain.
During a boom time for digital currencies, the Dai creators said they were quick to understand the need for a fair, transparent and efficient stablecoin.
MakerDAO hopes to offer traders a trustworthy asset-backed currency with low volatility towards major fiat currencies. The Dai launch on the Ethereum Mainnet represents one of the first fully…