Questions tagged [dai]

charlotte_wright_coder Thu May 16 2024 | 5 answers 1291

I'm curious, is DAI actually based on Ethereum? I've been hearing a lot about DAI and its stablecoin properties, but I'm not entirely sure about its technological foundation. Given the popularity and widespread use of Ethereum in the crypto world, it seems like a logical choice for DAI's underlying blockchain. But I'd like to know for certain. Could you clarify if DAI is indeed built on Ethereum, and if so, what are the advantages of this choice? I'm really interested in understanding the technological nuances behind DAI and its integration with Ethereum.

CryptoNinja Thu May 16 2024 | 7 answers 1874

I'm curious, is Dai available on Binance? I've been hearing a lot about Dai and its stability features in the crypto world. Binance is one of the largest exchanges, so it would make sense if they had listed Dai. Could you confirm this for me? If it is available, how active is the trading for Dai on Binance? Also, do they offer good liquidity for Dai trading? I'm considering adding Dai to my portfolio and would like to know more about its availability and trading conditions on Binance.

SejongWisdom Thu May 16 2024 | 7 answers 1912

I've heard quite a lot about DAI and its relationship with Ethereum, but I'm still a bit hazy on the details. Could you clarify for me if DAI is indeed backed by ETH? I've read that it's a stablecoin, but I'm not entirely sure how the backing mechanism works. Is it similar to how other stablecoins are collateralized? Or does DAI have a unique approach? I'm particularly interested in understanding the role of ETH in this process and how it ensures the stability of DAI. Could you please elaborate on this?

HanRiverVision Thu May 16 2024 | 7 answers 1100

Could you please explain to me what DAI is backed by? I've heard about this cryptocurrency but I'm not entirely clear on its underlying mechanism. Is it similar to other stablecoins where it's pegged to a fiat currency? Or does it have a unique collateralization system? I'm particularly interested in understanding how its value is maintained and whether it's backed by any physical assets. Could you elaborate on these points and give me a clearer picture of DAI's backing?

CharmedEcho Thu May 16 2024 | 6 answers 1469

I've been hearing a lot about DAI and Tether, but I'm still not sure which one is better. Could you help me understand the difference between them? DAI seems to be backed by collateral, while Tether claims to be pegged to the US dollar. But what does that really mean for investors like me? How stable are these cryptocurrencies compared to others? And which one has a stronger potential for growth in the long run? I'm looking for a reliable and stable investment option, so I'd appreciate your insights on this matter. Could you please elaborate on the pros and cons of both DAI and Tether, and help me make a more informed decision?