CosmicWave
Mon May 20 2024
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5 answers
1176
Is TUSD backed by dollar?
I'm curious, is TUSD backed by the US dollar? I've heard about stablecoins and their pegging mechanisms, but I'm not entirely sure how they work. Could you explain if TUSD maintains its value by being backed by the dollar? I'm interested in understanding the mechanisms behind its stability and how it differs from other cryptocurrencies that are not backed by fiat currencies. Would you mind shedding some light on this matter? Thank you in advance for your explanation.
Dario
Thu May 16 2024
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5 answers
827
Is DAI backed by dollar?
Could you please clarify for me if DAI is indeed backed by the US dollar? I've heard some discussions about its stability and pegging mechanism, but I'm still not entirely sure how it works. Is there a direct link between the value of DAI and the value of the dollar? Or is it more of a collateralized debt position, where the underlying assets are used to maintain DAI's stability? I'm really interested in understanding the intricacies of DAI's backing mechanism and how it differs from other cryptocurrencies. Could you provide some insight into this?
