Crypto Guide How MakerDAO/DAI MultiCollateral Loans Work On Oasis Network 2022

Want up-to-the-minute crypto commentary? Read all about MakerDAO and DAI tokens in Daiflash's new guide! 

Daiflash.com 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.

The article outlines the history of stablecoin 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.

The company keeps value consistent by raising interest rates, destroying returned DAI from closed loans to keep supply limited. 

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.

The process is controlled via smart contracts relating to Collateral Debt Positions that you take out with MakerDAO.

 Among the many benefits of DAI crypto is low-cost remittance, enabling the rapid and inexpensive purchasing of goods, services, and overseas transfers without huge gas fees.

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." 

Disclaimer: This information does not constitute investment advice or any other kind of advice.

Click on the link in the description for more details.