cryptoguru (ahmed502)

I am new one here lets connect

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DAI is a decentralized stablecoin created by a community-run project called MakerDAO. The idea behind DAI is very simple: it should always stay close to one US dollar, but instead of being backed by money in a bank (like USDC or USDT), it’s backed by cryptocurrency that people lock inside smart contracts. So if someone wants to create new DAI, they have to deposit something more valuable—usually ETH or other approved digital assets. This over-collateralization is what keeps DAI stable even when the crypto market moves. To maintain its $1 value, MakerDAO adjusts a few economic levers. For example, when people mint DAI by locking collateral, they pay something called a “stability fee,” which works like interest. If the system needs to reduce supply or stabilize the price, this fee can be increased. DAI also has something called the “Dai Savings Rate,” which is a simple way for anyone holding DAI to earn a bit of yield.

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recast:farcaster://casts/0x54158019bf656e03d2dada9c4b4145adcc985ebefbdf6058ce8c65f01c720751

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Sentient Checker is live 🪂 airdrop.sentient.xyz Eligible People↓ - Sentient Chat Users - Discord Role Holders - Yappers No allocation is showing as of now just eligibility check. Next we're waiting for @zama checker in because Q4 is confirmed. Flex your eligibility 🫵

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