Maker’s Dai is a coin stabilized against the US Dollar. In a response to the issues with Tether, this coin was designed to give traders another alternative to USDT. It is collateral-backed cryptocurrency that allows anyone to leverage their assets to Dai through a smart contract. This means that the owner’s asset is locked in until the amount of Dai is paid back to Maker. Unlike Tether, who still has not been audited since mid-2017 to prove their 1:1 backing of Tether to US Dollar, this uses people’s assets and smart contracts as a way to ensure that the currency maintains its value while also being backed the full amount of what it’s worth.
CryptoScores.org is not a financial advisor nor does any of its governing members or affiliates hold such certifications. None of the content on this website nor any mode of communication such as Twitter, Reddit, or any other medium of communication, including private correspondence, constitutes financial advice. All content produced by Cryptoscores.org including Coin Scores, Investment Portfolios, Analysis Reports, and all other content is only the subjective opinion of Cryptoscores.org and is for general information only. Cryptocurrencies are speculative by nature and hold a risk of loss. All cryptocurrency users, traders, and investors are responsible for their own due diligence and research. Cryptoscores.org holds no responsibility for losses incurred or for performances in general. Trade at your Own Risk.