My Homework Tasks for Professor @yohan2on- Week 6 | Topic: Stable coins | DAI

Greetings to all!!!

This week's homework tasks by Prof. @yohan2on is all about Stable Coin which he task us to:

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_{Homework Tasks:}

_{Write about any one of the following stable coins
Tether(USDT)
Steem backed dollar(SBD)
DAI}

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For this article, I will be choosing the Stable Coin DAI. I will discuss some important information about this stable coin and its usage in the Crypto World.

_{Stable Coin: DAI Tokens}

What is DAI Tokens?

DAI is also a Stable Coin who's price will act like the US Dollar and will not even change greater or lower than its price. It was invented by Rune Christensen, MakerDAO CEO. It is the native token that governs the MakerDAO Lending System which is a ERC20 based tokens. It plays a big rule on MakerDAO as it is their cryptocurrency to their lenders and users. When their is a lending transactions is made in MakerDAO platform, DAI tokens is created to be used by lenders. It maintains the whole system by providing liquidity for all its lenders and users.

Let's have a look to some of DAI's Statistics:

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DAI Statistics	Details
DAI Price	~$1.00
Trading Vol. 24h	$205,064,693.84
Volume / Market Cap	0.0724
Market Rank	#36
Circulating Supply	2,820,026,607 DAI
Total Supply	2,820,026,632 DAI

^{CoinMaketCap: DAI Price Statisctics}

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Some of the usage of DAI Tokens?

Every cryptocurrency has its own purpose on where it is created and used. Here we can know how use DAI Tokens.

Payment Method
Since DAI Tokens pegged to be same as to US Dollar's price, this can use as payment in buying some other cryptocurrencies, products and services. It is easily transferred within the Ethereum Blockchain.

Counterweight for the Volatility of popular Cryptocurrency
This means that, because of its characteristics of being stable in price, it is good for investor to hold when the market is bearish.

Savings for Holders
This means that holders of DAI Tokens will benefits from holding and locking in their tokens on the Smart Contract in the MakerDao Lending Systems.

Conclusion

There are different types of Stable Coins in the Market now with its different characteristics and usage in the Crypto world and one of it is DAI Tokens who governs the whole system of MakerDAO Lending System. To what we can know in any of the Stable Coins, the best thing we should always need to think is its information, so better to have a look for some information about it through reading their whitepaper and to have experience on their platform then we will know if it is good for us or not. Make your own research and understand it before taking any action.

This is the end of my homework tasks given by Prof. @yohan2on for week 6 and I hope it is good and accepted.

Thank you everyone especially the Steemit Team, @steemcurator01, @steemcurator02 and to all who supports.

God Bless Everyone.!!!

Your Student,

@godlovermel25