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Re: Advertise on NaijaCities App by Adawebs

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Dai (DAI) runs on the Ethereum blockchain, and algorithmically attempts to keep itself tied to the U.S. dollar. Unlike centralized stablecoins, Dai isn't backed by U.S. currency in a bank account. Rather, it is backed by collateral in the MakerDAO platform, a decentralized autonomous organization that also exists on the Ethereum network — allowing people to lend and borrow using cryptocurrencies. So, if the Dai credit system gets upgraded or shutdown, holders may need to convert their Dai to Ethereum cryptocurrency through the Maker platform.
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Bravebold

DAI
DAI
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Dai (DAI) runs on the Ethereum blockchain, and algorithmically attempts to keep itself tied to the U.S. dollar. Unlike centralized stablecoins, Dai isn't backed by U.S. currency in a bank account. Rather, it is backed by collateral in the MakerDAO platform, a decentralized autonomous organization that also exists on the Ethereum network — allowing people to lend and borrow using cryptocurrencies. So, if the Dai credit system gets upgraded or shutdown, holders may need to convert their Dai to Ethereum cryptocurrency through the Maker platform.
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Bravebold

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