DAI
DAI is a dollar that no company issues. It exists because collateral is locked against it and can be redeemed by anyone, which is a genuinely different arrangement from USDT and USDC. Those are claims on a company’s reserves, and this is a claim on a contract. Which one you prefer depends on which failure you consider likelier.
- Fee paid in
- DAI
- Settles about every
- 12 s
Transfers are quoted as one amount with the fee inside it. DAI is the only collateral-backed dollar this wallet carries.
Questions
How is DAI different from USDC?
USDC is issued by a company against reserves it holds. DAI is issued against collateral locked in a contract. Both aim at a dollar; the thing you are trusting is different.
Can DAI lose its peg?
It has drifted before under stress. It is not a guarantee, and no stablecoin here is.
Do I need ETH to send DAI?
No. Ethereum charges its fee in ETH and the wallet pays it out of the transfer, so a balance of DAI alone is enough to send.