Cryptocurrency exchange Coinbase has added support for dai (DAI) token, according to the official announcement that was published on Medium. DAI will be available for customers in most jurisdictions. However, the token will not initially be available for residents of the state of New York, notes the announcement.
DAI is a decentralized stablecoin that is based on the ethereum blockchain that was designed with a goal of maintaining a target value of approximately $1.00. Unlike most centralized stablecoins, DAI isn’t backed by U.S. dollars. Instead, it’s backed by collateral on the maker (MKR) platform.
Earlier DAI was listed on Coinbase Pro with a new group of tokens, including golem (GNT), maker (MKR), and zilliqa (ZIL).
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