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Traded? You mean loaned. That was always the wording that was used to promote DAI, whatever the underlying transaction might be.
by ppf 7y ago
Traded? You mean loaned. That was always the wording that was used to promote DAI, whatever the underlying transaction might be.
- vinniejames 7y agoUsers didft "loan" their lost ETH, they traded the ETH in as collateral and took out a loan in DAI. This collateral trade was made with full awareness that if the loan became under collateralized the ETH would be liquidated and sold at auction