Cryptocurrency Q&A
Is DAI backed by Fiat?
Is DAI backed by Fiat?
Maria
Mon Oct 21 2024
|
7 answers
1867
I don't understand this question. Could you please assist me in answering it?
7 answers
Tommaso
Wed Oct 23 2024
DAI, a unique stablecoin in the cryptocurrency landscape, differentiates itself from the likes of Tether's USDT and Circle's USDC in a fundamental way.
Was this helpful?
205
68
Lorenzo
Wed Oct 23 2024
Contrary to USDT and USDC, which are backed by fiat currencies such as the US Dollar, DAI does not rely on traditional monetary systems for its stability.
Was this helpful?
319
36
Davide
Tue Oct 22 2024
BTCC, a leading cryptocurrency exchange, recognizes the value of DAI and offers its services to facilitate the trading and management of this innovative stablecoin.
Was this helpful?
244
41
amelia_jackson_environmentalist
Tue Oct 22 2024
Instead, DAI's value is anchored to a system of various stablecoins and cryptocurrencies, creating a decentralized and innovative approach to maintaining its peg.
Was this helpful?
139
90
GalaxyWhisper
Tue Oct 22 2024
This distinction allows DAI to operate independently from the fluctuations of individual fiat currencies, offering users a more dynamic and adaptable stablecoin option.
Was this helpful?
240
85
Load 5 more related questions
