As the largest decentralized stablecoin on Ethereum, Dai circulation reached a record 900 million US dollars.
In order to help new users understand, we present nine videos that briefly outline the principles of the Dai and Maker protocols and their significance in the DeFi ecosystem. Some of these videos are produced by the Maker Foundation, and others are from enthusiastic community enthusiasts. Many enthusiasts spontaneously produce educational videos, promote and introduce Maker, which is a gift brought by the diversity and openness of the community.
1. What is Dai?
Users who are new to Dai and Maker often don't know where to start. It would be nice to have a clear and short video introduction.
It just so happened that Exodus Wallet made a video of less than two minutes, which gave a short and clear introduction to the Dai and Maker protocols, as well as the significance of Maker to the DeFi ecosystem.
2. MetaMask wallet stores Dai
Dai is an ERC20 USD stablecoin on Ethereum, and choosing an Ethereum wallet for safe storage and management of Dai is an important guarantee for assets.
The MetaMask wallet is currently the most used desktop version of the Ethereum wallet. You only need to install the wallet plug-in in the Chrome or FireFox browser to send and receive Dai.
For new users who don't know how to use MetaMask yet, Every Bit Helps has produced videos on how to install, set up, and use MetaMask.
3. How to get Dai
After understanding what Dai is, how to get Dai?
The first way is to go to exchanges such as Huobi, OKEx, Binance or Coinbase to directly buy and exchange Dai.
The second way, you can directly open the Maker vault on Oasis.app to mortgage ETH, wBTC, USDC and other assets to lend Dai. A demo video made by the Maker Foundation teaches you how to borrow Dai.
4. Deposit Dai and earn interest
A unique feature of Dai is that it can earn interest like depositing in Yu'e Bao.
Users can deposit Dai through Oasis.app or the secondary DeFi protocol, and experience real-time income, which can be deposited and withdrawn at any time.
5. Advantages of the decentralized stablecoin Dai
With so many stablecoins in the crypto market, why does Dai have an advantage over centralized stablecoins?
CoinBureau answers this question with the following video, including how the Maker protocol achieves decentralization through smart contracts, how Dai maintains a soft peg to the US dollar, and the future prospects of Dai.
6. How Dai can achieve massive growth
The current market value of Dai is close to US$1 billion, making it the third largest stablecoin in the crypto market. You may be wondering, what exactly does Dai rely on to achieve this achievement?
Maker Foundation CEO Rune Christensen gave the answer in an interview with Bloomberg. Dai's decentralization, no threshold, transparency and auditability make Dai the most popular encrypted stable currency in the world.
7. Smart contract: Maker builds the skeleton of new finance
DeFi allows Ethereum to find the most suitable application scenario - finance, and smart contracts are the backbone of building the financial system on Ethereum.
In an interview with Galaxy Digital Trading, Greg Diprisco, Business Director of the Maker Foundation, explained the importance of smart contracts to the Maker protocol to build a trustless and powerful financial system.
8. Enter the mainstream Dai
Getting out of the circle is a challenge for the entire DeFi industry. It is Maker's original intention and goal to let Dai enter the public and realize inclusive finance.
The International Consumer Electronics Show (CES) is a stage for the world's major electronic product companies to display high-tech product information to the world. At the conference in January this year, Maker made its debut.
Steven Becker, COO of the Maker Foundation, was interviewed at the meeting. He mentioned that DeFi can help provide global finance with greater transparency, efficiency and capital control, and Maker has the opportunity to reshape the new pattern of global financial services .
9. Dai is a cure for inflation
In 2019, people living in Argentina suffered from currency inflation, and the local currency depreciated by more than 80%. Mariano Conti, head of smart contracts at the Maker Foundation, who lives in Argentina, has experienced this firsthand.
Speaking at the Devcon5 conference in Japan, he told the story of how Dai effectively helped him avoid hyperinflation, and Dai has become the most popular cryptocurrency in Latin American countries.
