MakerDAO Launches New Dai Stablecoin on the Ethereum Blockchain

MakerDAO announced the launch of their Dai stablecoin on the 18th of December after over two and a half years of development.

Dai is a cryptocurrency that automatically reacts to emergent market conditions in order to stabilize its value against the major world currencies.

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…

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