## DAI (DAI) คืออะไร?

DAI เป็น [Stablecoin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) (คริปโตเคอร์เรนซีที่มีราคาคงที่) ที่พึ่งพา Ethereum ซึ่งได้รับกาผลิตและการพัฒนาจาก Maker Protocol และ MakerDAO ซึ่งเป็นองค์กรอิสระแบบกระจายอำนาจ

ราคาของ DAI นั้นถูกตรึงไว้กับดอลลาร์สหรัฐฯ และมีการค้ำประกันโดยการผสมผสานของคริปโตเคอร์เรนซีอื่น ๆ ที่มีการฝากไว้ใน [smart-contrac)](https://coinmarketcap.com/alexandria/glossary/smart-contract) vaults ในทุกครั้งที่สร้าง DAI ขึ้นใหม่

สิ่งสำคัญคือต้องแยกความแตกต่างระหว่าง Multi-Collateral DAI และ Single-Collateral DAI (SAI) ซึ่งเป็นโทเค็นเวอร์ชันก่อนหน้าที่สามารถค้ำประกันได้ด้วยคริปโตเคอร์เรนซีพียงสกุลเดียว โดยที่ SAI ยังไม่รองรับ DAI Savings Rate ซึ่งอนุญาตให้ผู้ใช้ได้รับเงินออมโดยการถือโทเค็น DAI

สำหรับ Multi-Collateral DAI ได้มีการเปิดตัวในเดือนพฤศจิกายน 2019

### ใครคือผู้ก่อตั้ง DAI?

คุณลักษณะเด่นอย่างหนึ่งของ DAI คือมันไม่ได้ถูกสร้างขึ้นโดยบุคคลใดบุคคลหนึ่งหรือผู้ร่วมก่อตั้งเพียงกลุ่มเล็ก ๆ การพัฒนาซอฟต์แวร์ที่ใช้ในการขับเคลื่อนและการออกโทเค็นใหม่นั้นถูกควบคุมโดย MakerDAO และ Maker Protocol

MakerDAO เป็น [องค์กรอิสระแบบกระจายอำนาจ](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) —ซึ่งเป็นบริษัทประเภทหนึ่งที่ดำเนินการในลักษณะการกระจายอำนาจผ่านการใช้ smart contract — ข้อตกลงที่บังคับใช้ด้วยตนเองที่แสดงในรหัสซอฟต์แวร์และดำเนินการบน [บล็อคเชน](https://coinmarketcap.com/alexandria/glossary/blockchain) ของ Ethereum

องค์กรนี้ได้รับการจัดการตามระบอบประชาธิปไตย โดยจะมีผู้ถือโทเค็นการกำกับดูแล Maker (MKR) จะทำหน้าที่คล้ายกับผู้ถือหุ้นของบริษัทแบบดั้งเดิม ผู้ถือ MKR สามารถลงคะแนนเสียงในการตัดสินใจที่สำคัญเกี่ยวกับการพัฒนา MakerDAO, Maker Protocol และ DAI โดยอำนาจการลงคะแนนของพวกเขาจะเป็นสัดส่วนโดยตรงกับจำนวนโทเค็น Maker ที่พวกเขาเป็นเจ้าของอยู่

MakerDAO ก่อตั้งขึ้นโดยผู้ประกอบการชาวเดนมาร์กชื่อ Rune Christensen ในปี 2015 ก่อนเริ่มทำงานใน Maker เข้าได้ศึกษาด้านชีวเคมีและธุรกิจระหว่างประเทศในโคเปนเฮเกน และก่อตั้งบริษัทจัดหางานระหว่างประเทศที่มีชื่อว่า Try China

### อะไรที่ทำให้ DAI ไม่เหมือนใคร?

ข้อได้เปรียบหลักของ DAI อยู่ที่การตรึงราคาไว้กับเงินดอลลาร์สหรัฐ

ตลาดคริปโตขึ้นชื่อว่ามีความผันผวนสูง แม้กระทั่งเหรียญที่ใหญ่ที่สุดและมี [สภาพคล่อง](https://coinmarketcap.com/alexandria/glossary/liquidity) สูงเช่น [บิทคอยน์](https://coinmarketcap.com/th/currencies/bitcoin/) บางครั้งอาจประสบกับการเปลี่ยนแปลงของราคา (ทั้งขึ้นและลง) ถึง 10% หรือมากกว่านั้นภายในวันเดียว ภายใต้สถานการณ์เหล่านี้ เทรดเดอร์และนักลงทุนมักที่จะเพิ่มสินทรัพย์ที่ปลอดภัยลงในพอร์ตการลงทุน ซึ่งราคาที่คงที่อาจช่วยชดเชยความผันผวนของตลาดที่มีนัยสำคัญได้

หนึ่งในสินทรัพย์ประเภทนั้นคือ stablecoin ซึ่ง DAI ก็เป็นอีกตัวอย่าง ซึ่งนี้เป็นคริปโตเคอร์เรนซีที่มีการตรึงราคาไว้กับสินทรัพย์ที่มีมูลค่าค่อนข้างคงที่ —ที่ปกติแล้วจะเป็นสกุลเงิน fiat เช่น USD หรือ EUR

ข้อได้เปรียบที่สำคัญอีกประการหนึ่งของ DAI คือข้อเท็จจริงที่ว่ามันไม่ได้รับการจัดการโดยบริษัทเอกชน แต่ดำเนินการโดยองค์กรอิสระแบบกระจายอำนาจผ่านโปรโตคอลซอฟต์แวร์ เป็นผลให้ทุกการปล่อยและการ burn โทเค็นได้รับการจัดการและมีการบันทึกต่อสาธารณะโดยใช้ Ethereum-powered self-enforcing smart-contracts ทำให้ทั้งระบบมีความโปร่งใสมากขึ้นและมีแนวโน้มในการทุจริตที่น้อยลง

นอกจากนี้ กระบวนการพัฒนาซอฟต์แวร์ DAI ยังถูกควบคุมในแนวทางที่เป็นประชาธิปไตยมากขึ้น — ผ่านการลงคะแนนเสียงโดยตรงจากผู้เข้าร่วมทั่วไปในระบบนิเวศของโทเค็น

#### หน้าที่เกี่ยวข้อง:

อ่านเกี่ยวกับ Tether ([USDT](https://coinmarketcap.com/th/currencies/tether/)) — stablecoin ยอดนิยมอีกประเภทหนึ่งที่มีราคาที่ตรึงไว้กับ USD

ลองดูที่ CoinMarketCap[blog](https://blog.coinmarketcap.com/)

อ่านเพิ่มเติมเกี่ยวกับคริปโตบน CMC [Alexandria](https://coinmarketcap.com/alexandria/categories/crypto-basics)

### มีเหรียญ DAI (DAI) หมุนเวียนอยู่กี่เหรียญ?

โทเค็น DAI ใหม่ไม่ได้ถูกผลิตขึ้นผ่านการ [ขุด](https://coinmarketcap.com/alexandria/article/how-long-does-it-take-to-mine-one-bitcoin) ดังเช่น บิทคอยน์ ([BTC](https://coinmarketcap.com/th/currencies/bitcoin/)) และ Ethereum ([ETH](https://coinmarketcap.com/th/currencies/ethereum/)) และไม่ได้สร้างโดยบริษัทเอกชนของเจ้าของเหรียญเอง อย่างเช่นที่ Tether ([USDT](https://coinmarketcap.com/th/currencies/tether/)) ไม่ว่าใครก็สามารถสร้าง DAI ใหม่ได้โดยใช้ Maker Protocol

Maker Protocol ทำงานบนบล็อคเชน Ethereum ป็นซอฟต์แวร์ที่ควบคุมการออก DAI เพื่อรักษาการตรึงราคาอย่างอ่อนกับดอลลาร์สหรัฐ Maker Protocol จะทำให้มั่นใจได้ว่าทุกโทเค็น DAI จะถูกค้ำประกันโดยคริปโตเคอร์เรนซีอื่น ๆ ในปริมาณที่เหมาะสม จากการเป็นส่วนหนึ่งของกระบวนการนี้ โปรโตคอลจะอนุญาตให้ผู้ใช้สามารถฝากคริปโตของพวกเขาไว้ใน vault ที่เรียกว่า — smart contract บนบล็อคเชนของ Ethereum — เพื่อเป็นหลักประกันและใช้ในการสร้างโทเค็น DAI ใหม่ในปริมาณที่สอดคล้องกัน

ไม่มีขีดจำกัดสูงสุดสำหรับอุปทานทั้งหมดของ DAI — อุปทานเป็นแบบไดนามิกและขึ้นอยู่กับจำนวนหลักประกันที่จัดเก็บไว้ใน vault ณ เวลาใด ๆ ก็ตาม ณ เดือนพฤศจิกายน 2020 มีการหมุนเวียนของ DAI ประมาณ 940 ล้าน

### เครือข่าย DAI มีความปลอดภัยอย่างไร?

DAI ที่ใช้ Ethereum โดยมันเป็นโทเค็นที่เข้ากันได้กับ [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) ด้วยเหตุนี้จึงได้รับการรักษาความปลอดภัยโดยอัลกอริธึม Ethash ของ Ethereum

### คุณสามารถซื้อ DAI (DAI) ได้จากที่ไหน?

การซื้อโทเค็น DAI พบได้ในแพลตฟอร์มออนไลน์มากมาย ซึ่งรวมถึงโปรโตคอลโทเค็น swap ทางการเงินแบบกระจายอำนาจ ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance))

* [Uniswap](https://coinmarketcap.com/th/exchanges/uniswap-v2/)
* [Compound](https://coinmarketcap.com/th/exchanges/compound/)

และตัวกลางการแลกเปลี่ยนคริปโตเคอร์เรนซีแบบดั้งเดิม:

* [Coinbase Pro](https://coinmarketcap.com/th/exchanges/coinbase-pro/)
* [Binance](https://coinmarketcap.com/th/exchanges/binance/)
* [OKEx](https://coinmarketcap.com/th/exchanges/okex/)
* [HitBTC](https://coinmarketcap.com/th/exchanges/hitbtc/)

Staying informed about key metrics is crucial for understanding the Maker ecosystem.

Regular monitoring keeps you updated on the protocol's health and growth.

Last week, we reviewed May's highlights and performance. Today, we'll cover more key metrics and where to find them:

The current DAI supply is the most important metric of the Maker Protocol. It shows the total amount of DAI created and circulating. As of today, this metric exceeds 5 billion DAI.

DAI is the first and largest decentralized stablecoin in DeFi. Since its launch, DAI has maintained a soft peg to the USD, with no major deviations.

Total Value Locked (TVL) represents the total dollar value of assets locked in the Maker Protocol.

 billion locked, making it the fourth-largest DeFi protocol, despite being live on only one chain since its inception.

The Maker Protocol allows DAI minting by depositing accepted assets into Maker Vaults. These assets include on-chain tokens like ETH, stablecoins like USDC, and Real-World Assets.

Currently, the ETH-C Vault type is the largest, with approximately 

On the same page, you can see the biggest collateral types in terms of revenue generated for the Maker Protocol.

Currently, SparkLend D3M and Spark’s MetaMorpho D3M are leading, generating an estimated 

 million in annual revenue based on their deposit APYs.

System Surplus and Dai Savings Rate (DSR)

Revenue earned from various fees is used for different aspects of the protocol, including the System Surplus and the DSR.

The System Surplus controls the maximum amount of DAI the protocol can accrue from revenue before it can burn MKR. Currently, to fully burn MKR, the system surplus needs to reach 50 million DAI.

The DSR is the rate at which the Maker Protocol rewards users who lock their DAI within DSR contracts. Currently, the DSR cost is approximately 153 million DAI.

DAI is the biggest product of MakerDAO, widely used for various transactions worldwide, but its primary usage is within DeFi. Currently, most DAI remains in DeFi, with EOA and the DSR being the top use cases, holding over 2.3 billion and 1.96 billion DAI, respectively.

By studying these metrics and following the data we share from this account, you'll understand the protocol deeply, enabling you to make informed decisions.

Endgame is near, and significant changes are coming to Maker, expanding opportunities for users to save and grow their money. This is just the beginning.

Staying informed about key metrics is crucial for understanding the Maker ecosystem.

Regular monitoring keeps you updated on the protocol's health and growth.

Last week, we reviewed May's highlights and performance. Today, we'll cover more key metrics and where to find them:

↓
Current DAI Supply

The current DAI supply is the most important metric of the Maker Protocol. It shows the total amount of DAI created and circulating. As of today, this metric exceeds 5 billion DAI.

For more details, visit: https://t.co/ltIgPon469
DAI Peg

DAI is the first and largest decentralized stablecoin in DeFi. Since its launch, DAI has maintained a soft peg to the USD, with no major deviations.

Check the latest updates: https://t.co/z1r68TAyu4
Maker TVL

Total Value Locked (TVL) represents the total dollar value of assets locked in the Maker Protocol.

Currently, Maker has approximately $8.76 billion locked, making it the fourth-largest DeFi protocol, despite being live on only one chain since its inception.

For more details, visit @DefiLlama: https://t.co/HcdUNDk2G0
Collaterals - Biggest Vaults

The Maker Protocol allows DAI minting by depositing accepted assets into Maker Vaults. These assets include on-chain tokens like ETH, stablecoins like USDC, and Real-World Assets.

Currently, the ETH-C Vault type is the largest, with approximately $2.07 billion worth of ETH locked.

Find more information here: https://t.co/XgUkitz2Ky
Collaterals - Biggest Revenue Generators

On the same page, you can see the biggest collateral types in terms of revenue generated for the Maker Protocol.

Currently, SparkLend D3M and Spark’s MetaMorpho D3M are leading, generating an estimated $155 million in annual revenue based on their deposit APYs.

For more details, visit https://t.co/XgUkitz2Ky
System Surplus and Dai Savings Rate (DSR)

Revenue earned from various fees is used for different aspects of the protocol, including the System Surplus and the DSR.

The System Surplus controls the maximum amount of DAI the protocol can accrue from revenue before it can burn MKR. Currently, to fully burn MKR, the system surplus needs to reach 50 million DAI.

The DSR is the rate at which the Maker Protocol rewards users who lock their DAI within DSR contracts. Currently, the DSR cost is approximately 153 million DAI.

Find the metrics about them here: https://t.co/IrG0v4Dp6E
Where is All DAI?

DAI is the biggest product of MakerDAO, widely used for various transactions worldwide, but its primary usage is within DeFi. Currently, most DAI remains in DeFi, with EOA and the DSR being the top use cases, holding over 2.3 billion and 1.96 billion DAI, respectively.

For more details, visit Dune: https://t.co/LG8r3DBKfd
By studying these metrics and following the data we share from this account, you'll understand the protocol deeply, enabling you to make informed decisions.

Endgame is near, and significant changes are coming to Maker, expanding opportunities for users to save and grow their money. This is just the beginning.

The latest Executive Vote has just gone live on the Maker Governance portal.

MKR holders and delegates can use their voting power to deploy the changes listed below if they support them.

If this executive proposal passes, the following actions will occur within the Maker Protocol:

A Spark proxy spell at 0x7bcDd1c8641F8a0Ef98572427FDdD8c26D642256 will be triggered. This includes changes that will adjust SparkLend’s risk parameters on Ethereum Mainnet and Gnosis Chain. The Spark’s MetaMorpho Vault allocation will also see increased supply caps.

[Mainnet+Gnosis] SparkLend Interest Rate Model Update

If this executive proposal passes, the following changes will be implemented on the SparkLend markets:

• USDC and USDT: Change slope 1 to DSR + 1%, and reduce slope 2 to 15%

• ETH: Reduce slope 1 to 2.5%, and reduce optimal utilization to 80%

• DAI: Reduce slope 1 to 9%, reduce slope 2 to 15%, and increase optimal utilization to 95%

• USDC, USDT and EURe: Reduce slope 1 to 9%, reduce slope 2 to 15%, and increase optimal utilization to 95%

[Mainnet] Update Spark’s MetaMorpho Vault Supply Caps

To capitalize on Ethena's recent rate adjustments, the following changes on the Spark’s MetaMorpho Vault will take effect:

• Increase the supply cap of the sUSDe 91.5% LLTV pool to 100 million DAI.

• Increase the supply cap of the sUSDe 86% LLTV pool to 400 million DAI.

[Mainnet+Gnosis] Turn Off Siloed Borrowing for All Stablecoins

• Turn off siloed borrowing for USDC and USDT on both Ethereum and Gnosis.

• Turn off siloed borrowing for EURe on Gnosis.

[Gnosis] Disable Governance Bridge Security Delay

The bridge security delay for SparkLend governance on Gnosis will be reduced from 2 days to 0 days to streamline operations.

🔥 Smart Burn Engine (SBE) Parameter Updates

The Smart Burn Engine (SBE) parameter will be changed:

• The vow.hump (SBE Surplus Buffer Upper Limit) parameter will be increased to 55 million DAI.

This parameter sets the threshold for the Smart Burn Engine (SBE) to initiate transactions. The change, recommended by BA Labs, will enhance system resilience and reduce risks.

🏦 Approve RWA Foundation (RWAF) DAO Resolution

The following DAO Resolution about RWA Foundation (RWAF) will be approved:

• RWAF DAO Resolution with IPFS hash Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR.

The resolution instructs the Director of RWAF to start the process of finding and onboarding an appropriate banking partner for RWAF.

🏛️ Approve Harbor Trade Credit (RWA004-A) DAO Resolution

The following DAO Resolution pertaining to Harbor Trade Credit (RWA004-A) will be approved:

• RWA004-A DAO Resolution with IPFS hash QmUiYTRy4BkV681tfFe3Ksj6gdLEq27w34MqLw5LvRaBoD.

The resolution allows the DAO to support HTC's case against Snakebyte in Germany and cover the legal costs.

MKR holders and delegates now is the time to actively engage and shape the future direction of MakerDAO:

Vote directly through the Executive Proposal:

Delegate your MKR to one or more Recognized Delegates:

The latest Executive Vote has just gone live on the Maker Governance portal.

🗳️ https://t.co/uGCRHTjVOb

MKR holders and delegates can use their voting power to deploy the changes listed below if they support them.

If this executive proposal passes, the following actions will occur within the Maker Protocol:

⚡ Trigger Spark Proxy Spell

A Spark proxy spell at 0x7bcDd1c8641F8a0Ef98572427FDdD8c26D642256 will be triggered. This includes changes that will adjust SparkLend’s risk parameters on Ethereum Mainnet and Gnosis Chain. The Spark’s MetaMorpho Vault allocation will also see increased supply caps.

[Mainnet+Gnosis] SparkLend Interest Rate Model Update

If this executive proposal passes, the following changes will be implemented on the SparkLend markets:

Ethereum

• ETH: Reduce slope 1 to 2.5%

• USDC and USDT: Change slope 1 to DSR + 1%, and reduce slope 2 to 15%

Gnosis

• ETH: Reduce slope 1 to 2.5%, and reduce optimal utilization to 80%

• DAI: Reduce slope 1 to 9%, reduce slope 2 to 15%, and increase optimal utilization to 95%

• USDC, USDT and EURe: Reduce slope 1 to 9%, reduce slope 2 to 15%, and increase optimal utilization to 95%

[Mainnet] Update Spark’s MetaMorpho Vault Supply Caps

To capitalize on Ethena's recent rate adjustments, the following changes on the Spark’s MetaMorpho Vault will take effect:

• Increase the supply cap of the sUSDe 91.5% LLTV pool to 100 million DAI.

• Increase the supply cap of the sUSDe 86% LLTV pool to 400 million DAI.

[Mainnet+Gnosis] Turn Off Siloed Borrowing for All Stablecoins

• Turn off siloed borrowing for USDC and USDT on both Ethereum and Gnosis.

• Turn off siloed borrowing for EURe on Gnosis.

[Gnosis] Disable Governance Bridge Security Delay

The bridge security delay for SparkLend governance on Gnosis will be reduced from 2 days to 0 days to streamline operations.

🔥 Smart Burn Engine (SBE) Parameter Updates

The Smart Burn Engine (SBE) parameter will be changed:

• The vow.hump (SBE Surplus Buffer Upper Limit) parameter will be increased to 55 million DAI.

This parameter sets the threshold for the Smart Burn Engine (SBE) to initiate transactions. The change, recommended by BA Labs, will enhance system resilience and reduce risks.

🏦 Approve RWA Foundation (RWAF) DAO Resolution

The following DAO Resolution about RWA Foundation (RWAF) will be approved:

• RWAF DAO Resolution with IPFS hash Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR.

The resolution instructs the Director of RWAF to start the process of finding and onboarding an appropriate banking partner for RWAF.

🏛️ Approve Harbor Trade Credit (RWA004-A) DAO Resolution

The following DAO Resolution pertaining to Harbor Trade Credit (RWA004-A) will be approved:

• RWA004-A DAO Resolution with IPFS hash QmUiYTRy4BkV681tfFe3Ksj6gdLEq27w34MqLw5LvRaBoD.

The resolution allows the DAO to support HTC's case against Snakebyte in Germany and cover the legal costs.

MKR holders and delegates now is the time to actively engage and shape the future direction of MakerDAO:

Vote directly through the Executive Proposal:

https://t.co/uGCRHTjVOb

or

Delegate your MKR to one or more Recognized Delegates:

https://t.co/3v40djf27w

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Aave-Ethereum

Binance

Aave-Avalanche

Ledger

Coinbase

Safepal

HyperPay

Trust Wallet

MetaMask

Binance Chain Wallet

SolFlare

Backpack

Phantom

Atomic wallet

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

Wormhole

Pepe

Ethena

Worldcoin

FLOKI

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USDC is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.

The stablecoin originally launched on a limited basis in September 2018. Put simply, USDC’s mantra is “digital money for the digital age” — and the stablecoin is designed for a world where cashless transactions are becoming more common.

Several use cases have been unveiled for the USDC. As well as providing a safe haven for crypto traders in times of volatility, those behind the stablecoin say it can also allow businesses to accept payments in digital assets, and shake up an array of sectors including decentralized finance and gaming.

Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.

USDC

TUSD is the first digital asset with live on-chain attestations by independent third-party institutions and is backed 1:1 with the U.S. dollar (USD). So far, it has been listed on more than 100 trading platforms such as Binance and Huobi and is live on 12 mainstream public chains, including Ethereum, TRON, Avalanche, BSC, Fantom, and Polygon.

TrueUSD is attested to in real-time by an independent, industry-specialized accounting firm in the U.S., to ensure the 1:1 ratio of its USD reserve to the circulating token supply and the 100% collateral rate. With the integration of Chainlink PoR, TrueUSD becomes the first USD-Backed stablecoin to secure minting and further ensure transparency and reliability. Users can access the relevant data via the official website tusd.io at any time. TUSD is granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica, a country in the Caribbean, effective on October 7th 2022.

TrueUSD

Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), Approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website. Launched on 5 Sep 2019, BUSD aims to meld the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2.

BUSD

Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.

Tether USDt

Founded in September of 2018, Pax Dollar is a flat-collateralized stablecoin. Stablecoins are cryptocurrencies that are designed to minimize the volatility of the price of the stablecoin, relative to a certain stable asset or a basket of assets.

A stablecoin can be pegged to a cryptocurrency or flat money. In some cases, it can even be traded for commodities. Pax Dollar offers the advantage of transacting with blockchain assets through minimized price risk. The Pax Dollar tokens (USDP) are issued asERC-20 tokens on the Ethereum blockchain and are collateralized 1:1 through the USD held in Paxos-owned US bank accounts.

Pax Dollar

TRON (TRX) is a decentralized blockchain-based operating system developed by the Tron Foundation and launched in 2017. Originally TRX tokens were ERC-20-based tokens deployed on Ethereum, but a year later they were moved to their own network.

Initially, the project was created with the aim of providing full ownership rights to makers of digital content. The main goal is to help content creators (who receive only a small part of the income) and encourage them with more rewards for their work. How: invite content consumers to reward content makers directly (without intermediaries like YouTube, Facebook or Apple).

The TRON software supports smart contracts, various kinds of blockchain systems, and decentralized applications aka dApps. The cryptocurrency platform uses a transaction model similar to Bitcoin (BTC), namely UTXO. Transactions take place in a public ledger, where users can track the history of operations.

Therefore, the platform was built to create a decentralized Internet and serves as a tool for developers to create dApps, acting as an alternative to Ethereum. Anyone can create dApps on the TRON network, offer content, and in return receive digital assets as compensation for their efforts. The ability to create content and share it openly without hesitation regarding transaction fees is an undeniable advantage of TRON.

TRON

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.

An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. This added both profitability potential and the ability for users to shape its future — an attractive aspect of decentralized entities.

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and larger block size. As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties.

Bitcoin Cash was created as an alternative to the first and most valuable cryptocurrency — Bitcoin (BTC). In 2017, BCH developers modified the BTC code, releasing their software version and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash. Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the SegWit upgrade. Moreover, another hard fork, which divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.

The scaling debate involved two sides: small block supporters opposed increasing block size as it could lead to blockchain centralization and vulnerability by making it harder to host full nodes. Large block supporters, however, advocated for a faster solution, concerned that rising transaction fees could hinder growth.

Bitcoin Cash

Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.

To learn more about this project, check out our deep dive of Litecoin.

The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.

The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin—albeit lighter in weight.

Litecoin

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.

The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.

Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.

Monero

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.

Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.

MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself.

The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.

Maker

Ethereum Classic (ETC) is the original Ethereum (ETH) blockchain that launched in July 2015. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC.

Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmap diverging further and further from each other with time.

Ethereum Classic first set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH.

Ethereum Classic

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world andcurrently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giantBinance, but there are a few key differences. The OKEx platform has its owncloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-inAPI for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions formargin trading.

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

To learn more about this project, check out our deep dive of Polygon Matic.

Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.

Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.

MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

Polygon

Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions. The platform is designed to move financial resources swiftly and reliably at minimal cost. Stellar links people, banks, payment processors and allows users to create, send and trade multiple types of crypto.

The basis of the network is its native digital currency - XLM or Lumens. XLM acts as an intermediate currency for operations and is also used to pay transaction fees. How it works: the protocol converts money in a few seconds, first into XLM, and then into the requested currency.

The Stellar payment protocol is based on distributed ledger technology -- an open-source development, community-owned and distributed by community. The crypto asset of the Stellar platform helps with cross-border transactions, overcoming the problems of high fees and slow procedures. XLM is more focused on assisting individuals transfer money than they are with institutions. Thus, Stellar offers access to financial systems, and people can send money at low cost and promptly around the world.

Moreover, Stellar serves as a decentralized exchange and marketplace, with a built-in order book that tracks ownership of Stellar assets. Platform users can manage buy/sell orders, as well as select and set their preferred assets in settlements. XLM is a built-in coin that helps reduce transaction fees.

The network maintains a high level of security.  XLM holders must have at least one token in order to remain active on the network. This nuance performs a global goal - the execution of network transactions efficiently and with minimal time costs. Plus, Lumens offers protection against flood attacks by making microtransactions too expensive for hackers with no chance of profit, which keeps Stellar Network safe from serious threats.

The target audience of Stellar is the inhabitants of developing countries, ordinary users who are provided access to the global economy through fast, simple and inexpensive transactions. Stellar Network makes extensive use of Lumens to produce live convection as well as to send cash in multiple currencies; currency is sent from one peer, and the recipient can receive the amount in another currency. This feature is beneficial when a transaction is made between currencies without widely traded pairs.

Support for multi-currency transactions is another competitive advantage of Stellar, and the ability for cross-currency transactions has only enhanced processes with foreign operations. Moreover, stable speed and low transaction costs are a privilege that users receive.

This functionality is powered by a development called Anchors (a bridge between different currencies and the network), which simplifies the exchange within the network and helps speed up the whole process.

In summary, the benefits of Stellar (XLM) include:

Stellar

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.

The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.

Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

Cosmos

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). As a metaprotocol, Polkadot is also capable of autonomously and forklessly updating its own codebase via on-chain governance according to the will of its token holder community.

Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services.

The Polkadot protocol can connect public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain (explained further down).

Polkadot’s native DOT token serves three clear purposes: staking for operations and security, facilitating network governance, and bonding tokens to  connect parachains .

Polkadot has four core components:

Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains;

Parachains: independent chains that can have their own tokens and be optimized for specific use cases;

Parathreads: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model;

Bridges: allow parachains and parathreads to connect and communicate with external blockchains like Ethereum.

Polkadot

Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.

Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. BNB is an integral part of the successful functioning of many of the Binance sub-projects.