Liquid Will List Maker’s Dai in Run Up to GRAM Token Sale

The Japan-based subsidiary of Quoine has cautioned against over-reliance on unregulated stablecoins in the past.

Customers of Japan-based Quoine subsidiary crypto exchange Liquid can now trade buy and sell Maker’s Dai, a decentralized, ERC20-based stablecoin, according to a blog post from the exchange.

Dai is an algorithmic stablecoin that controls is value by creating and burning tokens in accordance with supply and demand. It is collateralized with ETH, the native token of the Ethereum network. When the price of DAI exceeds USD$1, it can be sold for more than it’s worth, which increases the coin’s supply and causes it to fall back to USD$1; when it is below USD$1, users can use it to pay off debt within the system, which increases demand and raises the price.

While DAI isn’t regulated, its decentralized governance and transparency model have caused some to believe that it is more secure than its centralized stablecoin counterparts, such as Tether dollars (USDT).

Read More at FinanceMagnates...


Antminer Banner.png