hashport is thrilled to announce a collaboration with MakerDAO, and the integration of $DAI onto hashport! With the integration, $DAI becomes one of the first stablecoins on hashport. It also becomes the first multi-collateralised stablecoin available on Hedera. The presence of $DAI on Hedera significantly improves the usability of the network’s DeFi ecosystem. We are proud to have worked with our validator, StableNode, to expand the utility of $DAI and the functionality of hashport.
What is $DAI?
DAI is the world’s first decentralized stablecoin, launched in 2017 by MakerDAO as an unbiased, collateral-backed cryptocurrency whose value is soft-pegged to the US Dollar. Every DAI in circulation is directly backed by an excess of collateral assets. A diverse portfolio of cryptocurrencies and assets are accepted as collateral for DAI, including real-world assets, limiting its exposure to any one asset class. Supported on several popular blockchains, DAI is the reliable decentralized stablecoin underpinning a global, trustless financial future.
What is Maker DAO?
In 2015, Rune Christensen launched MakerDAO to facilitate a more inclusive and transparent financial system. Maker DAO uses $DAI stablecoin, a decentralised ERC-20 token pegged 1:1 to the US Dollar which uses cryptocurrencies like $ETH, $BTC and more as collateral. $DAI has become one of the most critical aspects of the decentralised finance ecosystem as more than 400 applications have integrated Maker DAO into their platforms. Since its launch, Maker DAO has grown from one of the first-ever protocols on Ethereum to become one of its largest.
“With the integration of MakerDAO’s $DAI stablecoin onto hashport, portability for one of the most important assets within all of crypto has been enabled for hashport users. This is an exciting step towards creating a robust DeFi ecosystem on the Hedera Public Network.”
Jesse Whiteside, Director of Business at hashport
Technical Updates — $DAI Token Addresses
Ethereum Contract Address: 0x6B175474E89094C44Da98b954EedeAC495271d0F
Hedera Token ID: 0.0.1055477
If you’re attempting to port $DAI tokens and have any questions, please refer to hashport’s FAQ page here. If you require further assistance, please contact email@example.com for additional help.
hashport is the enterprise-grade public utility that facilitates the movement of digital assets between distributed networks, extending their functionality in a quick, secure, and cost-effective way. In order to remain platform-neutral, hashport functions without the use of a proprietary token. The network is built on a robust and performant architecture, secured and operated by a group of industry-leading validator partners from around the world. hashport has passed a rigorous security audit and follows industry best practices; regularly performing comprehensive network tests to ensure the integrity of the network.
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Disclaimer: The information provided on hashport’s website does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should not treat any site content as advice.