Guia para iniciantes o que é Dai e como funciona Bybit Learn PDF

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Criptomoedas Bitcoin DAI Stablecoin Guia para iniciantes o que é Dai e como funciona Bybit Learn...

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26/03/2021

Guia para iniciantes: o que é Dai e como funciona? | Bybit Learn

De Bybit Learn 22 De Março De 2021

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A criptoesfera experimentou um crescimento drástico recentemente, com o Bitcoin liderando o caminho. Empresas nanceiras multinacionais começaram a investir grandes somas de dinheiro em Bitcoin - um movimento que pode preceder uma onda de adoção de criptograa.

Para alguns indivíduos, e especialmente para day-traders, a volatilidade é considerada positiva e talvez a coisa mais atraente com a qual as criptomoedas são caracterizadas. Mas para outros, é exatamente o oposto; a volatilidade é vista como uma fraqueza das criptomoedas - um argumento frequentemente usado por oponentes da indústria para criticar as criptomoedas, chamando-o de ativo instável.

Digite stablecoins - uma espécie de solução, frequentemente usada por traders para minimizar sua exposição a movimentos extremos de preço normalmente encontrados em criptomoedas. Um dos stablecoins mais populares no momento é o token Dai (DAI). Neste guia, você entenderá o que é Dai stablecoin, como funciona, quem o criou, onde encontrá-lo e muito mais.

O que é um Stablecoin? Uma stablecoin é uma forma de criptomoeda que minimiza a volatilidade. Stablecoins podem ser atrelados ao dólar americano ou outros ativos como ouro, por exemplo. Acima, falamos sobre como as criptomoedas são ativos voláteis.

Bitcoin e Ethereum são as duas criptomoedas mais populares no espaço, mas podem ser altamente voláteis. Esse comportamento de preço pode impedir a adoção predominante desses ativos ou o uso generalizado como forma de pagamento. Por exemplo, uma empresa pode hesitar em pagar o salário de alguém em Bitcoin se seu preço continuar utuando.

A volatilidade da criptograa é um obstáculo para empréstimos baseados em blockchain e mercados de previsão. A volatilidade também pode ser um obstáculo para outros contratos inteligentes de longo prazo que precisam de estabilidade. E é óbvio que existem usuários que desejam armazenar e usar seu dinheiro em um ativo que sirva como reserva de valor.

As ideias para a criação de criptomoedas com preços estáveis já existem há algum tempo. O principal desao, porém, tem sido a estabilização dos preços. Portanto, a criação de stablecoins é considerada o coroamento da criptoesfera por muitos.

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Pegging do Stablecoin. Fonte: Research.algalon.com

Assim, embora o valor da moeda duciária, por exemplo, possa se mover drasticamente, as autoridades centrais controlam a oferta e a demanda para manter o preço estável. Quando se trata de criptomoedas, isso é impossível porque as criptomoedas não são controladas por ninguém e, portanto, estão sujeitas a utuações de preço.

There are various types of stablecoins:

Fiat-backed stablecoins — Stablecoins that are backed by currencies such as USD, EUR, or GBP. Fiatbacked stablecoins are backed at a 1:1 ratio. Therefore one stablecoin equals one unit of the at currency. Commodity backed stablecoins — Stablecoins that are backed by commodities such as gold. One coin is equally worth one unit of the pegged commodity (such as one ounce of gold). Crypto-backed stablecoins — Stablecoins backed by other cryptocurrencies. In order to reduce the volatility risks potentially present in the reserve cryptocurrency, crypto-backed stablecoins are usually over-collateralized. This means that instead of having collateral at a 1:1 ratio, the ratio takes a 1:2 weightage instead. Usually, it involves reputable cryptocurrencies such as Bitcoin or Ethereum. Cryptocollateralized stablecoins are decentralized and the most popular one is Dai stablecoin. Dai is pegged to USD and built on the Ethereum network.

Non-collateralized stablecoins — These types of stablecoins do not hold any kind of collateral. To keep the value stable, they depend on smart contracts, which alter the supply of stablecoins depending on market demand.

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Since cryptocurrencies are volatile, Dai can be used as a hedge against volatility, especially at times when traders believe the price of cryptocurrencies could crash. Dai token keeps the value of $1 since it is softpegged to the dollar. Currently, the market cap of Dai is at $2.8 million and it is expected to grow.

The market cap of Dai has experienced signicant growth. Source: Coinmarketcap.com

Who Created Dai? Dai stablecoin was created by MakerDAO, which is a decentralized autonomous organization. It operates in a decentralized methodology by using smart contracts. MakerDAO was established in 2014 by Danish entrepreneur Rune Christensen.

MakerDAO is managed through a democratic system where MKR holders vote on decisions to be made regarding changes to MakerDAO, Maker Protocol and DAI. The power of their vote is proportional to the number of Maker tokens they possess.

Dai token and its smart contracts were ocially launched on the Ethereum blockchain on Dec. 18, 2017. Venture capital rm Andreessen Horowitz invested $15 million in MakerDAO in September 2018, making it the owner of 6% of the total MKR token. That year, even as ETH saw a drastic drop in price, Dai managed to successfully maintain its $1 handle.

In 2019, there were divisions within MakerDAO because founder Christensen wanted to create a more favorable environment to allow for assets besides cryptocurrency to serve as collateral for Dai. After some discussion, the Chief Technical Ocer (CTO) left MakerDAO.

How Does Dai Work? Dai is created when users borrow against locked collateral, and it is destroyed when loans are repaid. If you deposit Ether or other cryptocurrencies accepted as collateral, you will create a new Dai. When you pay back the borrowed Dai, the locked collateral will be recovered.

As mentioned above, Dai is pegged to the U.S. dollar. To maintain its value, Dai uses Target Rate Feedback Mechanism (TRFM). So, the goal of Dai is to keep the value at $1. If the price target is below $1, then TRFM increases so that the price goes back up. When the price goes back up, Dai crypto holders make prots, and demand increases. As demand increases, the supply decreases since users borrow Dai through Collateralized Debt Position (CDPs) and buy from the market. Thus, they cause the Dai price to go back up to its target price.

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Dai’s goal is to maintain a value equal to one U.S. dollar. Source: Hackernoon.com

There are other stablecoins such as Tether (USDT), True USD (TUSD) and Paxos Standard (PAX). All of these stablecoins have one thing in common: they are pegged to stable assets (such as the U.S. dollar). Dai differs from the rest for several reasons. The main advantage is that Dai is decentralized. It is managed by a decentralized autonomous organization via a software protocol. Since Dai stablecoin is built on the Ethereum blockchain, anyone can create Dai without permission.

Every activity on the blockchain is publicly recorded by the Ethereum-powered self-enforcing smart contracts. Therefore the system Dai uses is transparent and less prone to corruption.

Also, within Dai, there is a democratic system of governance, where every change and decision is made with the votes of regular participants.

What Uses Does Dai Have? Dai stablecoin is mostly used as a hedge against volatility since it maintains a stable value. What characterizes these assets is precisely the ability to maintain their stability even in a volatile market. Dai does just that because it can maintain the $1 price in any situation.

Dai can also be exchanged relatively easily for real money or traded for other goods. It is one of the most popular crypto assets in Decentralized Finance (DeFi). Lending with Dai deposits come with a number of benets as well. In countries such as the United States, United Kingdom, Netherlands, Australia, France, and Spain, customers can obtain two percent a year on their Dai deposits by lending through Coinbase.

Dai can also be used in cross-border transactions. Making international transfers to other countries through traditional methods like Western Union can be very expensive and time-consuming. With the Maker Protocol, which is based on blockchain technology, you can make transfers of Dai for a fraction of the price of the traditional method, within a few seconds.

Also, it has always been dicult for developers to integrate dollars into FinTech applications. Dai token makes this process much easier because developers can enable users of their platforms to make transactions using Dai. This is possible because Dai is accessible to everyone since it exists in the Ethereum blockchain.

How Do You Get Dai Tokens? In the early days of cryptocurrencies, it could be dicult to buy them since there weren’t many cryptocurrency exchanges. These days, the amount of cryptocurrencies have grown dramatically and it has never been easier to buy them.

The rst place that comes to mind when it comes to getting Dai tokens is the MakerDAO platform. However, you can buy Dai crypto on many cryptocurrency exchanges also. Some of these exchanges are:

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Coinbase Pro Huobi Global KuCoin Kraken Binance OKEx HitBTC Gemini

You can also get Dai through Decentralized Finance (DeFi) token swap protocols such as:

Uniswap Compound

How Do You Store Dai? Dai is an ERC-20 token so it can be stored in any ERC-20 compatible wallet such as Atomic, MyEtherWallet, Metamask, Exodus, Jaxx, Mist, and Trust.

Dai tokens can also be stored in hardware wallets such as Ledger or Trezor. Hardware wallets are more secure to store your tokens as they are not connected to the internet, and is therefore impossible to hack.

What is The Future of Dai Token? MakerDAO has made great strides in making Dai as competitive a stablecoin as possible. Since Dai launched in 2017 on the Ethereum blockchain, one can safely say that the token has had considerable success.

Since the purpose of MakerDAO is for Dai to be an “unbiased currency”, they have even made the Dai logo in a way that is more easily identied as a currency at a glance. Something similar to at currencies’ logos such as the Euro and Dollar.

The Dai symbol alongside popular global currencies. Source: MakerDAO.com

To succeed in the future and achieve its goals of being adopted and used by millions of people, Maker must

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The Bottom Line There are many stablecoins out there. But Dai is truly unique, as it is an ERC-20 token based on the Ethereum blockchain. It is Dai’s democratic system of governance that makes it stand out from the crowd.

Dai can be used as a hedge against ination as it maintains the value of $1 in any situation. Although this may be the goal of all stablecoins, what makes Dai stablecoin special is that it does this through an automated system of smart contracts on the Ethereum blockchain.

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