My Favorite Stablecoin (DAI and the MakerDAO)

In this video, I discuss DAI the stablecoin, as well as the DeFi protocol MakerDAO.

MakerDAO is a DeFi protocol that runs on the Ethereum network. In many ways, it functions like a "decentralized central bank."

DAI is an algorithmic stablecoin that is decentralized, borderless, and censorship-resistant. It is created when someone deposits ETH into a MakerDAO vault and "mints" new DAI. The protocol uses stability fees and the Maker token (MKR) to ensure that one DAI is always approximately equal to one U.S. dollar.

DAI may be sent anywhere in the world, or deposited into other DeFi protocols (such as Compound) to earn interest.

Stablecoins like DAI make a lot of sense for anyone who wants to avoid the volatility of cryptocurrencies like BTC and ETH, while still taking advantage of the many benefits of cryptocurrencies.

DAI can also be used to borrow against long-term holdings of ETH, without incurring a taxable event, as well as for leveraging up an ETH position.

Not investment advice! Consult a financial adviser.

USDC stablecoin:
https://www.youtube.com/watch?v=jBRqJXGZGXc&ab_channel=TraderUniversity

MakerDAO and DAI:
https://makerdao.com/en/

DefiPulse:
https://defipulse.com/

Crypto market caps:
https://coinmarketcap.com/

Compound DeFi protocol:
https://compound.finance/markets

Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join

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#Stablecoin
#Crypto
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