07 October 2020 | ZebPay Trade-Desk
The DAI vs USDT Comparison
The ZebPay team is proud to bring you DAI, yet another exciting token launch to add to our DeFi offerings.
Like USDT, DAI too is a Stablecoin. Essentially, a stablecoin attempts to offer price stability and is backed by a reserve underlying asset. It offers the best of both worlds — the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.
DAI vs USDT — Summary:
FeaturesDAIUSDTMarket Cap.$877,714,282$15,612,734,888Current Price$1.01$1.0024 HR Volume$81,932,400$44,822,997,425ROI (from ICO)1.20%0.04%All Time High/Low$1.14 / $0.95$1.21 / $0Circulating Supply869,589,167 DAI15,607,118,421 USDT
About DAI
Dai is decentralized and backed by collateral. It aims to empower, and facilitate greater security, transparency and trust towards the Maker Protocol, on which the DAI can be generated and traded. Dai (DAI) is a stablecoin built on the Ethereum (ETH) blockchain. It attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn’t backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform, using the MKR token.
The idea behind Maker DAI is to create a rock solid, trust based stablecoin. The underlying asset in DAI’s case is the US Dollar. The purpose of a Stablecoin is to eliminate a crucial problem that cryptocurrencies tend to face — volatility.
Read more on our blog.
