Everything You Need to Know About DAI in 9 Minutes🔥

The Maker Project’s DAI stablecoin has become the most popular cryptocurrency used for lending in decentralized Finance today. However, the borrowing mechanism and risks that the decentralized credit platform poses are often not very obvious to the general public. Therefore, we have made this short yet comprehensive video to take you through everything you should know before borrowing DAI.

Due to the COVID-19 pandemic and the circuit breaker measures in Singapore, this video was shot and put together remotely by the Switcheo team while working from our homes.

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Switcheo is the first multi-chain Decentralised exchange (DEX) offering cross-chain token pairs on Ethereum, NEO and EOS blockchains. We offer seamless user experience, non-custodial crypto trading, anonymity, and low trading fees when trading on our exchange.

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[FPVhead]

This is a good well put together explanation. Good job!

[Sydra.]

Thanks for the useful information! You are making people's life better!

[youngflyleadersyfl]

Thank you so much for this video!! Great info!

[xdtt]

how does the liquidation works ? I mean USDT pair is the most traded one and USDT is bit shady so like how do you state the actual value of BTC, I mean like in terms of USD ? like for example if USDT crashes to like 3 cents then what will happen to DAI cuz like its using the data from BTC/USDT and ETH/USDT pairs!

[flyinalex]

Nice video, DAI is an interesting project but there is a lot of complexity required to make it work, and after March fiasco, its hard to see how its worth it for most people... Especially for those who have access to USDC or other reliable stablecoins

[markteetz]

Sorry to be so late to the party. What is the reason to buy DAI then? As a casual(poor) investor, should I sell my DAI?

[mrchaos]

Thank you for this really informative video. I have question:

It​ is​ not possible to trade​/by crypto tokens​ with DAI. H​owever​, using 'Binance Convert', ​it is possible convert DAI ​to a given crypto token e.g. LINK, SOL etc. Once the conversion is complete, what currency would the crypto ​token ​- e.g. LINK​, SOL​ - be backed by? So as to clarify, I ask ​the question ​because there is no (tradeable) LINK/DAI, SOL/DAI on Binance​ - i.e. the LINK/SOL one now owns, cannot be sold/traded as LINK/DAI or SOL/DAI​. Is it the case that the ​token​ - e.g. LINK, SOL - is backed by DAI, but ​it would then need to be sold as USDT, BUSD etc?​ Note: the key answer I'm after is what would the crypto token be backed by: DAI, ETH, or something else?

Thank​'s in advance for​ your help​.​

[Kevin]

is there a difference between borrowing and just hodling DAI?

[jbsilveradoo]

But how does it keep a value of $1? How does the value of dai go up as inflation of the US dollar go up?

[jaenyc]

150? So if I want to buy Dai with USD then I have to pay extra. Doesn’t this defeat the purpose of it being a stable coin

[jmrdrgz]

Thanks. For now it appears I rather stay away from it.

[realist]

Leave it to a woman to explain this better than any man channel I’ve ever seen now to see a woman can’t do better than a man not to say that I’m shocked that a woman can do this I’m just saying that this video as well put together easy to explain well thought of the other channels that are run by men to explain dai don’t even do a good chat do a job