Showing posts with label dai. Show all posts
Showing posts with label dai. Show all posts

YouHodler Adds the Largest Decentralized Stablecoin to its Platform..

YouHodler Adds Dai
YouHodler, the rapidly evolving FinTech platform is pleased to announce that it has listed Dai, the world’s leading decentralized stablecoin. Built on the MakerDAO system, Dai lives completely on the blockchain, making it borderless and available to anyone, anywhere.

“We believe stablecoins and their attributes are essential for the positive development of the industry,” said YouHodler CEO Ilya Volkov. “Having the Dai stablecoin on the platform will introduce our communities to all the benefits that the largest decentralized stablecoin can bring. Users will also create an additional utility for Dai, using it for high-yield savings accounts and for loan repayments. Thus helping Dai expand to new sectors of the crypto community.”

The listing sees YouHodler offering a Dai wallet for secure storage, Dai exchange between fourteen coins, five stablecoins, and four fiat currencies on the platform, Dai as a payment method for YouHodler’s crypto-backed loans and a Dai Savings Account where users can earn 12% APR with weekly payouts.

“Integrating Dai to YouHodler creates more opportunity for people around the world to explore the benefits of DeFi and Dai,” said Gustav Arentoft, Head of Business Development for Europe for the Maker Foundation.

Unlike centralized and fiat-backed stablecoins on the market, Dai is backed by cryptocurrency and decentralized. With over 550 live Dai integrations, the Dai stablecoin is one of the most popular and recognized in the industry and its numbers continue to grow. The first iteration of Dai (currently now Sai) was launched in December 2017. Two years later in November 2019, the current Dai system came to be which includes a variety of new features such as the Multi-Collateral Dai (MCD) and the DSR features which allow Dai users to power their financial activities more efficiently.

MakerDAO has a good reputation in the crypto community as it received investments from the industry’s top funds like Andreessen Horowitz, Polychain, and Dragonfly Capital. MakerDAO joins the company of other top projects like Huobi, Paxos, and ChainLink that were added to YouHodler in the past month.

About YouHodler
YouHodler FinTech platform is focused on crypto-backed lending with fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG, Dai), crypto/fiat and crypto/crypto conversions, as well as high-yield saving accounts. YouHodler supports BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, REP, and other popular cryptocurrencies and tokens.YouHodler is an active member of the Blockchain Association of Financial Commission and the Crypto Valley Association. Customers are protected by the independent Financial Commission’s efficient dispute resolution process.

Information Provided via Press Release
Distributed by Global Crypto Press AssociationPress Release Distribution for industry.

A look at 3 other 'stable coins' that could to destroy Tether's market dominance...

The volatility of crypto makes it impractical to use as an everyday transactional currency. Until the markets mature and price levels out, the only hope of mass adoption lies in the foundation of a viable “stable coin”, or a cryptocurreny pegged to a stable asset like the U.S. dollar. Many believe that the emergence of a strong stable crypto will herald an exodus from fiat into the world of internet money.

Currently there are more than 8 coins vying for this position on They all have slightly different constitutions and proposed uses. Here are three of the most popular, and what makes them distinct.

1. True USD - An ERC-20 token pegged to USD. TUSD is a product of TrustToken, a platform which will eventually have tokens pegged to other assets like bonds and real estate. TUSD does not currently have many trading pairs, but it can be bought with BTC on Binance, Bittrex, Upbit and others.

2. Dai - From decentralized autonomous organization MakerDao, Dai is pegged to USD but backed by Ethereum. It runs on the ETH blockchain as a smart contract and is therefore public and transparent. Dai is not yet available on major exchanges, but can be found on Bibox and Hitbtc.

3. Havven - (Nomin) Also a decentralized organization, Havven is a blockchain whereby stable coins called Nomin are transacted. Havven is still speculative as it hasn't been tested on exchanges yet. Buy on Kucoin or

For now, coins like Tether and True USD are mainly used are safe-haven during Bitcoin corrections, though it should be noted that trading any crypto this way comes with risks. None of these products are perfect, they all have flaws, questionable origins, or over-complicated whitepapers. In some ways it has become a race for the prize. One thing is certain: any semblance of mainstream adoption relies heavily on the promise of a stable, fast, secure, and available medium.

Author: Jeffrey Byron
Los Angeles News Desk