The number of outstanding Dai has reached the protocol’s built-in “debt ceiling” of 100 million— an all-time-high for the nearly two-year-old stablecoin project. The post Dai stablecoin outstanding supply hits 100M ‘debt ceiling’ appeared first on The Block.
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Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.
Alex Obadia leads Research and Platform efforts at Cambrial Capital, a fund of crypto funds based in London and Berlin. The post Exploring DeFi trading strategies: Arbitrage in DeFi appeared first on The Block.
Ledn is partnering with MakerDAO to bring the ethereum-backed stablecoin DAI to more users in Latin America.
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