Dai (DAI)

Dai (Ticker symbol: DAI) was the first decentralized stablecoin to launch on the Ethereum network. It is asset-backed and serves as a hard currency that caters to both businesses and individuals. Businesses have the option to use DAI in both lending and instant global transfers. Due to its stability, it is perfect to use in lending, making for stable, predictable loans. It also helps to reduce costs relating to the supply chain and international trade by enabling faster, safe and more cost-effective transactions. On the other hand, DAI can be used by individuals when it comes to hedging, payments and market predictions. Hedging - provides stability during periods of high market volatility. Payments – DAI can be used as a form of payment at merchants that accepts crypto. Market predictions – provides the stability needed to make more accurate market predictions. It is tied to the US dollar on a 1 to 1 basis.