Dai

“So like two stable coin pools, a USDC and dive pool that does, you know, anywhere from like eight to 15%. And that's been like that on the low end of the spectrum for the last year plus.”

“And so, one of the really, really important details about DAI is this idea that there's a lot of different types of assets. So you can imagine supply chain invoices, you can imagine, like, commodities like gold, you can imagine pure cryptocurrencies like Ether…”

“That's really cool because there's this flywheel where Dive has already sort of improved the user experience of today's early applications on the blockchain, and, you know, that in turn fosters adoption of those applications, and increased adoption in turn lea…”

“In the case where one of the collaterals that they accept to be issued against, if they ever make a mistake, and that collateral loses all of its value overnight, then all of the die that was issued against it needs value to be backing it. And so what happens …”

“Something like about a million new DAI come into circulation every week as people lock up ether and issue against it, which is so cool.”

“If everybody comes at this from, like, some kind of hyper-rational, self-centered, I'm only in it for myself, mentality. Then they'll just never coordinate. They'll never cooperate, you know, and they'll never put aside their differences and do the hard work o…”

“DAI, for example, has been live for over a year. The underlying assets have been super volatile, and it's remained stable.”

“Now, the beauty of DAI as a cryptocurrency is that it has all of the advantages of Bitcoin, but it is also a price table, and it is because of that stability that it is a credible digital alternative to fiat in countries where hyperinflation is a problem or fo…”

“Now, Maker launched DAI almost a year ago, and it's been in circulation ever since, and has defended its peg against the dollar beautifully, even through the crypto downturn.”