Quote from: torrantz on April 07, 2018, 10:57:55 PM

Quote from: jacobwoods on April 07, 2018, 04:41:46 PM

DAI tokens are backed by ETH if i can recall.. they also have a partnership with DGD if i remember correctly. DAI has actually maintained stable price. Switchain is the first instant exchnage offering DAI.. In DOGE, LTC and BTC trade pairs.. certainly a better option than buying tether.. opinions on Nubits??

If the DAI token was backed by ethereum and How can it be considered as stable coin? consider about the fact that the price of ethereum was always changing anytime. Tether has already manipulated by the developer to be as a money printing.

The way i understand is this:

They change the amount of ether backing each DAI token as the price fluctuates so that $1 of ETH is always backing each coin.. If price of ether goes up, less ETH backs each coin