This article was first published on Ethos
Dai & MKR Listed & Live on Universal Wallet
Ethos is proud to support both the MKR and Dai tokens. The MakerDao is realizing the potential of blockchain through their stablecoin, collateral loans and decentralized governance. Both of these tokens can easily and securely be stored, sent and received within the Ethos Universal Wallet.
Dai is the world’s first decentralized stablecoin on the Ethereum blockchain. Dai uses collateral to back its value, and interest rate mechanism to stabilize its price, eliminating volatility through an autonomous system of smart contracts, specifically designed to respond to market dynamics.
Currency collateralization and interest rate adjustments ensure Dai has low volatility against its external reference point, the US dollar.
Unlike many other stablecoins that are backed by fiat currency, Dai is fully decentralized and entirely collateralized with Ether. In September, MakerDAO published the code to their upgraded collateral system for Multi-Collateral Dai (MCD). With MCD, investors can collateralize Dai with a variety of assets beyond ETH. MCD will additionally include a feature called the Dai Savings Rate (DSR). The DSR helps balance supply and demand of Dai and will be one of the monetary policy levers that decentralized Maker Governance can control.
If the market price of Dai falls below $1, the DSR will increase. Likewise, if the market price of Dais is above $1, the DSR will decrease, helping maintain stability in market value.
With a presence on numerous cryptocurrency exchanges, multiple partnerships with global supply chain companies, and agreements with organizations serving non-government agencies, MakerDAO is unlocking the power of the blockchain to deliver on the promise of economic empowerment today.
We are excited to bring our communities together through the Universal Wallet, providing token holders of MKR and Dai with a safe and secure place ...
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