DAI
DAI is an Ethereum-based stablecoin managed by the Maker Protocol and MakerDAO decentralized autonomous organization. Its price is soft-pegged to the U.S. dollar and is collateralized by a mix of cryptocurrencies deposited into smart-contract vaults when new DAI is minted. There are two versions of DAI: Multi-Collateral DAI (launched in November 2019) and Single-Collateral DAI (SAI). The former can be collateralized by various cryptocurrencies, while SAI could only be backed by one. Unlike SAI, Multi-Collateral DAI supports the DAI Savings Rate, allowing users to earn savings by holding DAI tokens. This innovative approach combines traditional financial mechanisms with decentralized blockchain technology, providing stability and utility in the cryptocurrency space.
Maker Hits a New All-Time High Close to the $5,000 Mark
Maker has grown nearly eight-fold since the beginning of this year. It hit a record high of $4,995 today, breaking the $4,500 mark in one clean swoop.
Top Tips for New Bitcoin Investors
Investing in Bitcoin can be a complex and daunting process for beginners. That's why you should learn tips for investing in Bitcoin. Although you've heard stories of people making money from Bitcoin investments, you should be careful when starting.
Bitcoin Will One Day Close a $40,000 Daily Candle, says BTC Advocate Jimmy Song
Jimmy Song believes that Bitcoin's daily candle will one day close at more than $40,000 based on its present closure of at least $1900 in the past 24 hours.
Maker’s Dai Stablecoin Could Reach $2 Billion in Market Cap by the End of 2021—Here’s Why
Messari boldly suggests that after Dai’s market cap surged by 15x this year, due to DeFi, the stablecoin’s market cap could double by the end of next year
Pickle Finance DeFi Protocol Loses $19.7 Million In DAI Stablecoin in “Massive” Hack
Pickle Finance becomes the latest DeFi Protocol to suffer from hacking, losing almost $20 million in DAI stablecoin.
Ethereum Transactions Hit A Record-High of 1.4 Million
The Ethereum network has reached a notable milestone in its daily transactions after hitting an all-time high of 1,406,016 as availed by Etherscan data on September 17. It broke the previous record of 1.35 million attained on January 4, 2018.
Will the Impact of Yearn Finance's yETH Vault on the DeFi Space Last Long?
Yearn.finance, a decentralized finance (DeFi) protocol, has recently launched yETH vault, enabling the process of seeking the best returns for yield farmers
Bitcoin Ad in Hong Kong Apple Daily Publication Promotes Bitcoin As Beyond Government Control
In the Hong Kong Apple Daily today, a full-page ad was dedicated to Bitcoin, calling on Hong Kongers to move their wealth beyond the control of “any” government.
Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record
The Libra Association appointed Sterling Daines as its new Chief Compliance Officer, who is currently the Managing Director and Global Head of Financial Crime Compliance at Credit Suisse. He is expected to leave his position at Credit Suisse and join the Libra Association later this year. Prior to Credit Suisse, he was the Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs and has worked as a consultant to the US Department of Justice and the Financial Crimes Enforcement Network (FinCEN).
Is Cryptocurrency the Answer? Egypt’s Central Bank Limits Daily Cash Withdrawals Amid Coronavirus Crisis
Egypt is facing a severe cash crunch as the country is feeling the economic pressure of the coronavirus outbreak. The central bank of Egypt has instructed local banks to begin restricting daily withdrawals and has instructed citizens not to withdraw so much money.