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MakerDAO News Multi-Collateral Crypto Loans Explained Stake MKR & DAI Token 2022
by PRC Agency PR
Want up-to-the-minute crypto commentary? Read all about MakerDAO and DAI tokens in Daiflash's new guide!
With financial markets still in turmoil following the uncertainty of the pandemic era, interest in cryptocurrency is running high. In light of this, Daiflash.com, a renowned news and information site dedicated to digital currency, has launched "What Is MakerDAO Stablecoin?" - a new 2022 guide for crypto beginners, exploring DAI - the latest decentralized currency built on top of the Ethereum blockchain. Read it today and you'll benefit from detailed insight into how DAI tokens work and ways in which you can invest for yourself.
Cash in before the next crash – get the crypto gossip and breaking news from the ever-brilliant Dailflash. More details at https://daiflash.com/what-is-makerdao-stablecoin-2022-crypto-beginners-guide-to-multi-collateral-loans-with-mkr-dai-token-on-oasis
The new guide is authored by Chris Munch – a respected digital entrepreneur and cryptocurrency expert. The article outlines the history of stablecoins and why DAI represents a departure from earlier iterations such as Demini Colin, USDC, and PAX.
According to Yahoo, there were approximately 5.5 DAI in circulation as of July 2021. DAI's value is 'soft-pegged' to the value of US dollar and you make it by taking out a loan on the MakerDAO platform. When its price dips below the one dollar level, MakerDAO increases interest rates as an incentive for you to return the DAI and close your loan. The company destroys the returned DAI, keeping supply limited. This, in turn, drives the price back up. A similar mechanism is enacted in reverse when DAI's value exceeds one dollar.
Daiflash's article explains that DAI has undergone a steady growth in usage and market capitalization since its creation in 2013. Furthermore, it is unique among stablecoins in that it does not rely on collateral held by a company. Instead, the process is controlled via smart contracts relating to Collateral Debt Positions that you take out with MakerDAO.
According to Munch, among the many benefits of DAI crypto is low-cost remittance, enabling the rapid and inexpensive purchasing of goods, services, and overseas transfers without you having to pay huge gas fees.
Other advantages include no minimum deposit requirement and no geographical or liquidity restrictions. The Maker DAO platform also provides you with complete transparency for every event and transaction that happens. In addition, you can generate more DAI by storing surplus collateral in Maker vaults.
The article also discusses why the stability that comes with the DAI coin makes a refreshing change for crypto traders in a market characterized by volatility and sudden price fluctuations.
Author Chris Munch writes, “This beginner's guide will teach you how to invest in MakerDAO and how DAI works so you can make the most of your money.”
With its latest report on MakerDAO and the emerging stablecoin market, Daiflash.com continues to make cryptocurrency accessible to the masses.
Get the lowdown on stablecoins with Daiflash's free report on MakerDAO. Find out more here: https://daiflash.com/what-is-makerdao-stablecoin-2022-crypto-beginners-guide-to-multi-collateral-loans-with-mkr-dai-token-on-oasis
If you're clueless about crypto but fancy a slice of the action, visit the Daiflash website now!
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
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Created on Mar 12th 2022 03:11. Viewed 206 times.
