DAI is a stable coin designed to be worth exactly $1. What’s special about it is that it’s not backed by a physical 1USD stored in an unknown location – instead, it’s backed by other cryptocurrencies such as Ethereum and BAT via MakerDAO. This makes the DAI much more transparent than other stablecoins such as the USDT / USDC. We also show the minting process for DAI via the Oasis App (MakerDAO).

Maker DAO: https://makerdao.com/
Use DAI on Oasis: https://oasis.app/

👉👉Get your Unstoppable Domain: https://unstoppabledomains.com/r/4e8eeeec11004b3
Apple Podcast: https://podcasts.apple.com/us/podcast/bitcoin-out-of-the-box/id1490037766
Defi Playlist: https://www.youtube.com/watch?v=NQeEiPORvkE&list=PL9lFXJSrjdxANKXk9GMhgJwOe7S4O0ey-

Special thanks to Nathan and Phil for Editing this Video. Check Nathan out at https://www.youtube.com/channel/UCFBMJMfA6WcmoIOIb81JE0g
#Ethereum #DAI #MakerDAO

00:00 Introduction
1:47 Unstoppable Domains
2:44 Why Stable Coins
3:38 Problem with USDT
4:15 DAI strengths and Weaknesses
5:59 Minting DAI

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●▬▬▬▬▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬▬●
I’m not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.

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37 replies
  1. Sonny
    Sonny says:

    Very interesting and good videos you make. Still I have a question about DAI. Why would you be in a contract with 1 ETH for just 1/1.5 ETH worth of DAI? Aren't you just being exposed to the market with extra steps? Please explain, thanks!

    Reply
  2. George Goosen
    George Goosen says:

    Thanks for a great video, although im not 100% sure what the motivation would be for someone to convert ETH to DAI. Considering there is not a fee to maintain it. Wouldnt it be better to put your crypto in a liquidity pool and at least you can earn APY on that?

    Reply
  3. Fight The Bully!
    Fight The Bully! says:

    So, if I made $4000 in say chainlink and wanted to cash out but coinbase, Uphold, or whatever is acting up. I can transfer it into dai and cash out later because it should hold at least a dollar value? If I'm comprehending it correctly. I'm new to this.

    Reply
  4. Dep-ed Teacher Cuenca
    Dep-ed Teacher Cuenca says:

    Good day to the viewers and subscribers to box mining. I am Teacher in the Philippines, i am asking genuinely for your help.. I am not a bot or any program i bleed red blood cells with hemoglobin proteins…..i am Campaigning to raise 500$ for the equipment for education because they cannot afford any gadgets for distance learning their family is earning less than 50$ per month… please help, i am asking for the viewers or the subscriber to donate just 0.50$ or 1$… because 1$ for us is really big… just a dollar will help…Thank you so much.

    Hi I'm Erika Balangawan Buenvenida. I am a 2nd year college student, taking up AB Philosophy at #BicolUniversity. My father is just a single parent and the only one who is shouldering our expenses of me and my 3 siblings. Unfortunately, due to pandemic his work as a carpenter had stopped. I want to help lessen my family's burden by humbly asking for your help. I'm earning money through online selling and barbeque making but it isn't enough since our online class has already started last August 10, 2020. I've seen a lot about #PisoParaSaLaptop posts and i would like to take this opportunity to ask for your donations. Any amount would be highly appreciated, even a single peso coin will be a big help for me to raise funds and buy a laptop for my online schooling. All cash donations will be funded for me and my 2 younger brothers.

    You can send your donations via

    GCASH: 09167914883

    PAYMAYA: 09167914883

    COINS PH: 09083165952

    ETH Address: 0x4Df5d7E6E4a14D1297b0F9A537c6f937202c6E0D

    BTC Address: 34ET88A1Y8Ed2s2y5Ly3WAFBZdjrHppdUf

    BNB Address: bnb1n6mwlajvukcxmjh9apxhmutkcevrtmyamnr54x

    BCH Address: ppn85zd79mksetp53fgu20r39kk008a39qskmvqdnf

    You can also help by sharing this post.

    Thank you so much in advance! Godbless!❤️😍

    #PisoParaSaLaptop

    #PisoParaSaPangarap

    #PisoParaSaWifi

    #PisoParaSaEdukasyon

    Reply
  5. Nero 0
    Nero 0 says:

    So did you just swap etherwum for dai? I'm lost. You locked youre ethereum away and got dai straight away i thought you would lock it into the contract and slowly generate more. If this is the case how much does it take to generate more dai

    Reply

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