PulseRider
Thu May 16 2024
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5 answers
1323
Is DAI backed by Ethereum?
I've heard DAI mentioned quite often in discussions about cryptocurrencies. And I know Ethereum is a major player in this space. So, I'm just curious, is DAI backed by Ethereum? I mean, does it have some sort of direct or indirect relationship with Ethereum? I'm trying to understand the underlying mechanisms and the relationship between these two entities. Can you explain it to me in a way that's easy to grasp for a non-expert like me?
SejongWisdom
Thu May 16 2024
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7 answers
1912
Is DAI backed by ETH?
I've heard quite a lot about DAI and its relationship with Ethereum, but I'm still a bit hazy on the details. Could you clarify for me if DAI is indeed backed by ETH? I've read that it's a stablecoin, but I'm not entirely sure how the backing mechanism works. Is it similar to how other stablecoins are collateralized? Or does DAI have a unique approach? I'm particularly interested in understanding the role of ETH in this process and how it ensures the stability of DAI. Could you please elaborate on this?
HanRiverVision
Thu May 16 2024
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7 answers
1100
What is DAI backed by?
Could you please explain to me what DAI is backed by? I've heard about this cryptocurrency but I'm not entirely clear on its underlying mechanism. Is it similar to other stablecoins where it's pegged to a fiat currency? Or does it have a unique collateralization system? I'm particularly interested in understanding how its value is maintained and whether it's backed by any physical assets. Could you elaborate on these points and give me a clearer picture of DAI's backing?
CryptoProphet
Thu May 16 2024
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7 answers
1772
What is DAI coin backed by?
Could you elaborate on the collateral that underlies the DAI coin? I'm interested in understanding the mechanism that backs its value and ensures stability within the decentralized finance ecosystem. What assets are being used as a guarantee for DAI's issuance, and how does this system work to maintain the coin's pegged value? Additionally, are there any specific conditions or triggers that could affect the collateralization of DAI, and how does the system respond in such scenarios? I'm keen to gain a deeper understanding of the economics behind DAI and its underlying collateral.
Lucia
Thu May 16 2024
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7 answers
1687
What is Hedera backed by?
I'm curious, could you please elaborate on the backing behind Hedera? I've heard it's a distributed ledger technology platform, but I'm not quite clear about what exactly backs its reliability and credibility. Is it the power of its innovative technology? Or perhaps it's supported by a consortium of powerful organizations? I'm also interested to know if Hedera has any form of regulatory approval or endorsement from any governing bodies. Could you shed some light on these matters for me?
