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📺 Video on Stablecoins 👉
📺 Video on MakerDAO 👉
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⏰ Time Stamps ⏰
1:17 What’s a Stablecoin?
2:50 Varieties of Stablecoins
4:42 Background to DAI
6:04 Mechanism to Preserve Peg
9:00 Liquidation Mechanisms
12:30 Historic Efficiency
13:21 Multicollateral vs. Single Collateral
15:21 Utilizing the Oasis DeFi Hub
17:48 DAI Markets & Buying and selling
18:28 Conclusion
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📖 Venture Sources 📖
► MakerDao Web site:
► Whitepaper:
► Oasis Hub:
► Migration Instrument:
► Developer Docs:
► Weblog:
► Twitter:
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🔗 Useful Hyperlinks 🔗
► Migration Information:
► Launch of MCD:
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📝 Venture Overview 📝
DAI was launched in 2017 and was developed by the parents over at Maker. Maker is making an attempt to develop a line of decentralised stablecoins that might be tied to different belongings. They’ve issued two tokens specifically the Maker MKR and the DAI stablecoin.
DAI is ready to preserve the peg via a cautious stability of financial incentives and recreation idea. Basically, the system creates arbitrage alternatives each time there’s a deviation from the 1 to 1 peg.
On condition that the DAI stablecoin is an ERC20 token, this implies which you can simply retailer and switch it like some other Ethereum primarily based token.
⚙️ Expertise ⚙️
Customers can borrow DAI by inserting their cryptocurrency into what the Maker group calls a ‘Vault’. At the moment, the collateral will be Ethereum or Courageous’s BAT token.
If there are any deviations from the one greenback peg then the person can both situation DAI or redeeem it simply. This can then see them making a revenue on the arbitrage alternative that opened up.
The motivation mechanism additionally signifies that the economics adjusts the availability & demand available in the market with a view to stability the excellent DAI.
The MakerDAO vaults are additionally overcollateralised which signifies that there might be extra etheruem within the vault than DAI excellent.
💰️ Multicollateral vs. Single Collateral 💰
The primary advantage of MCD is that you might use extra than simply ETH within the CDPs. You can additionally use Bat tokens and they’re assessing the potential of different tokens akin to Augur’s Rep.
There may be additionally that title change from CDP to ‘Vaults’. You even have the multicollateral variant adopting the DAI ticker whereas the one collateral kind will now be SAI.
You even have some adjustments to the soundness payment. With the one collateral DAI, these have been paid in Maker tokens. Now, with the launch of MCD, these stability charges will be paid in DAI.
You even have one thing known as the DAI financial savings fee or DSR. Because the title implies, this can be a methodology via which DAI holders can earn returns on their stablecoin.
👨💻️ DeFi Hub 👨💻
The DeFi hub brings collectively three key options of the Maker ecosystem into one simplistic person expertise. You may have Oasis Commerce, Oasis Borrow and Oasis Save.
Oasis Commerce is mainly a Decentralised alternate that means that you can commerce your DAI for different ERC20 tokens akin to Ethereum and Augur’s REP.
Oasis Borrow is the place you possibly can unlock DAI by making a vault. By means of this interface you possibly can borrow the DAI by locking up Ethereum or BAT.
The financial savings a part of the hub is the place you possibly can lock up your DAI and earn the financial savings fee that’s presently set at 8%.
📈 Buying and selling & Wallets 📈
DAI is a fairly common stablecoin and is listed on a variety of exchanges. A number of the greatest exchanges so that you can commerce it are Coinbase Professional, Kraken and Binance. There may be quantity on a variety of different exchanges as properly. You may have fairly respectable liquidity throughout all of those exchanges.
On condition that the DAI is an ERC20 token you should use any pockets that helps Etheruem. There may be fairly a listing of them however your greatest guess might be to go together with a {hardware} pockets like a ledger nano or a trezor.
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📜 Disclaimer 📜
The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who is just not a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any explicit consequence.
#DAI #Stablecoin #crypto #makerdao #Evaluate #ethereum #blockchain #erc20 #binance
Source: Coin Bureau
42 Responses
I tried to explain this the best I could but truth be told, the stability mechanism and liquidation protocol are quite complex 🤯
If you guys didn't understand anything, then hit me up in the comments and I will try help you out best I can 🙏🏻
You can actually earn DAI passively with MoonWilly token, that s how I got hooked up to DAI, I really think it can overthrow USDT and stop the FUD
Gee GAI, way to involved for me. Think I'll stick to simpler crypto. But you the best. Thsnks.
Hey Coin Bureau, How do order books work for DAI? same as other coins? i.e if someone wanted to buy 10,000 USD of DAI does there need to be a seller of this? Just looking at ways of holding funds on a cold wallet during bear market that is stable?
I just don't understand why anyone would lock their ETH for DAI. If I wanted a DAI in my wallet, I would go buy some from an exchange; no need to worry about the collateral, no risk of liquidation.
How does one "ping over" ones email to subscribe to your news-letter?
Why does he hold only USDC when he is saying DAI is the best?
$APTY stablecoin penny stock under $.02 is pulling an AMC type move. See the 3 month chart. 🚀 🔥 🚀
$APTY stablecoin penny stock under $.02 is pulling an AMC type move. See the 3 month chart. 🚀 🔥 🚀
Excellent video !
Muchas gracias GUY:)
When did Henry Cavil get into crypto?
You just forgot to mention the gas fees to transfer through dapps and then to stake it through metamask. If you plan to use this DAI anytime soon, all the saving interests will not pay off the transaction fees
say wha?
Do you still think that DAI is better than UST? Seems like the last crash, UST maintained its peg a LOT better
So….you can use DAI vault contracts to "trade" ETH in situ long against the dollar. At the same time, you can earn 7% on ETH gains by reallocation, and you can limit downside risk through overcollateralization, and holding enough DAI to close a vault contact in toto.
Nice. Not only did they make an excellent mechanism, they created one that would prop up ETH and create a theoretical floor on ETH relative to dollar/ETH demand and volume.
Do you still think DAI is the best stable coin?
you have a very longwinded way of explaning "fluff". I had the feeling i learned in the first 6min nothing. Dai is a complicated beast why not cut the fluff and then dive into the details expert style.
Team gaajoyce/eveliz
At this time, a year later, do you still think DAI is the best stablecoin?
Minimum amount of DAI available to generate is now 5000. With a 150% LR that comes out to about 2 ETH you need to lock in as of this date. Wondering why the increase in the minimum…
Dai is the only stable coin you can spend using the coinbase debit card. They dont allow you to spend your fiat from the debit cards. only cryptos. So im playing catch up with stable coins
This is just a deconstructed bank, funded by the collective and governed by a stable set of rules that are automatically applied. Holy fuck
Still your favorite stablecoin? I’m a new investor trying to plan how to take profits and hodl over the bear market. I hope there will be videos about it!!
Hi Guy. I'm fairly new to crypto and realize that I will need to stabilize my lil profits at some point. Do you have any updates to the best stable coins for 2021? I'd love to hear your thoughts. Thank you for always providing such informative and entertaining crypto content. <3
Made 0 since!
Safemoon listagem binance +coinbase 0,01 vai safemoon pra cima agora vai
Ok so because you can make 2.00 can I use it as a savings account and earn more ???
US is collapsing so stablecoins tied to a dollar will go down in value
Not sure about investing in a coin that sounds like Die lol
I don't understand the point of a stable coin pegged to 1 USD. I thought the whole point of crypto was so that it wouldn't suffer inflation, surely if it's pegged to a currency that inflates, it will also inflate as it's pegged?
It’s sounds like we invest our money into Dai which seems like it’s not going to appreciate very much. To we’re there’s a Group of people the Makers of Dai that have our money’s coming in and can take loans whenever they want. That’s probably why it really never grows
Please I’m trying to understand this!! I’m just new!! If you can update me more
never mind 'gainz' im after the 'PIPS'. big big tings going on in the DeFi space over the last 12 months since the original release of this video.
wait- so is your name dai or guy…. you lost me
you should understand first and then you dont have to read it
Nice.. just got $30 in dai for free
u are a fucking genius
Weeeel
Amazing video. I rarely comment on ANYTHING, but this was a true show of knowledge easily explained.
I agree in the defi evololtion that we want to move towards decentralized stablecoins & coins in general, ideally & so far,I've not utilized DAI I've been using USDC mostly,through Coinbase,which is not decentralized, though now that I'm planning to employ Nexus Mutual Insurance & I diversify my liquidity pool investments covered by them or the loans I take from NEXO (also not decentralized,but covered by their $100M coverage,so practically insured) I find the balance between centralized or custodial wallets & DEX's to be mutually beneficial,when the coverage of NEXO for example & defi insurance from Nexus Mutual & liquidity pools interests can all work together & put my mind at ease that all is protected from "most" hacks or smart contract bugs. Your videos are a "wealth" of knowledge & will make me million$ & then some. <see what I did there,lol ;~) Keep up the good work, guy..
I don't understand. If I sell 1 BTC at it's peak for, lets say, 100'000 DAI, will I lose DAI when Bitcoin crashes? Or alternatively: Lets say I buy 100'000 DAI with one BTC, then an year later bitcoin is 20'000$ can I but 5 BTC with the DAI I have?