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https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90 https://medium.com/cryptolinks/maker-for-dummies-

• ac29 8y ago
  DAI, like other stablecoins, isn't really all that stable - right now it costs about $1.02 to buy $1 worth. And, it's frequently been over 5% away from $1: https://coinmarketcap.com/currencies/dai/#charts https://coinmarketcap.com/currencies/dai/#charts Most "stable" coins are trading at over $1 right now, presumably as people try to flee sinking cryptocurrencies and have no practical and/or legal means to turn them into real money.
  • chrisco255 8y ago
    It doesn't have to always be exactly $1. You obviously can't control markets and what people sell things for...but DAI has mechanisms in it's protocol so that the price trends to $1. It's incredibly fascinating, it's decentralized, permissionless, loans with an economic system backing it. It's very novel tech and a huge achievement.