Latest Dai updates on February 21st

MakerDAO has had a busy and successful start to the year 2023, with developments in DeFi, governance, and partnerships. On February 17th they announced 4 governance polls, the first being a new loan participation with Cogent Bank, an FDIC-regulated Floating Rate Note issuer. This was followed by proposals to implement a feature to refund people who send Dai to the Dai contract address, and to allow for changing communication responsibilities. The fourth proposal was to amend the interim facilitator appointment process. On February 16th MakerDAO also announced that users can now send and receive DAI through Arbitrum on Coinbase. Furthermore, WSTETH-B has hit a new all-time high with over 334k WSTETH deposited worth approximately $636 million, and 163 million DAI generated. Finally, Uniswap has described an interesting idea on how to use liquidity provider tokens as collateral in a MakerDAO loan.

What is Dai ?

Introducing Dai: An Unbiased Global Financial System

Dai is an unbiased global financial system created by MakerDAO, a decentralized platform that enables anyone to access the financial system without any bias. The platform has been designed in such a way that it serves both individuals and organizations in all parts of the world.

Dai is a cryptocurrency that is backed by a basket of real-world assets, including fiat currencies, commodities, and stablecoins. This ensures that the value of Dai remains stable, no matter what the market conditions are. As a result, Dai can be used for safe and secure transactions in any part of the world.

The MakerDAO platform is powered by the Ethereum blockchain and uses smart contracts to facilitate financial transactions. This ensures that all transactions are secure and immutable. Moreover, the platform also provides users with a secure, decentralized wallet that can be used to store and manage Dai.

Dai has several advantages that make it a great choice for anyone looking for an unbiased financial system. First, it is designed to be stable, making it a great choice for those looking to store their money without worrying about market fluctuations. Second, users can also benefit from low transaction fees, as the platform does not include any hidden costs. Finally, Dai is also a great choice for those looking to invest or trade in cryptocurrencies, as it is backed by real-world assets.

Overall, Dai is a great choice for anyone looking for an unbiased global financial system. With its low transaction fees, secure wallet, and stable value, it is a great choice for anyone looking to access the financial system without any bias.

This article was published on 2023-01-28 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.