Dai to Be Delisted From Crypto.com on January 31st

Crypto.com will delist Dai DAIUSD on January 31st. The deadline for converting or withdrawing these assets is March 31st. After this date, any remaining holdings may not be accessible through the exchange.

DAI Info

MakerDAO is a key player in the Decentralized Finance (DeFi) sphere, featuring a stablecoin, DAI, which is collateralized by cryptocurrency and pegged to the US dollar. The project is managed by a Decentralized Autonomous Organization (DAO), a governance structure involving token holders in decision-making processes.

The operational mechanism of MakerDAO revolves around the use of Maker Vaults where users lock their cryptocurrency at a specific Liquidation Ratio, enabling them to generate DAI. Overcollateralization is utilized to mitigate risks associated with crypto’s price volatility. If the collateral“s value drops below the Liquidation Ratio, the collateral is liquidated to cover potential losses. Stability of DAI is ensured by the DAO”s regulation of the Stability Fee and DAI Savings Rate, effectively controlling the token’s supply and demand.

As a stablecoin, DAI offers the typical benefits of crypto assets such as worldwide transferability, utility in transactions, and functionality as a hedge against profit and loss fluctuations. Additionally, DAI can be leveraged or invested in a DAI Savings Rate contract for interest. Governance within the MakerDAO ecosystem is facilitated through the use of MKR tokens, allowing holders to participate in decision-making processes ranging from alterations in Stability Fee, DAI Savings Fee, to modifications in the team structure and smart contracts.