Introducing Dai as a Quote Currency

Today, we are pleased to share that Dai is now available as a quote currency on ERC dEX!

This means Dai is now paired with all 37 utility tokens offered on the platform. Additionally, you are now able to use Dai as a quote currency through their user interface and developer toolkit Aqueduct, used for sharing liquidity and building automated trading applications.

Traditionally, quote currencies are extremely limited. Typically restricted to Bitcoin, Ethereum or Fiat options. While these options are now ubiquitous across exchanges, Bitcoin and Ethereum are not stable.

Dai serves as a completely decentralized option for stability. ERC dEX’s choice to include Dai as a trading pair marks a broader trend in the ecosystem where fiat and centralized options for stability are no longer needed. Without DAI, traders must either subject themselves to the volatility of the crypto markets or face the expensive and inefficient process of converting their crypto to fiat. In both cases, users are subject to avoidable risks and fees.

ERC dEX is unique in that the exchange is a hybrid-decentralized trading platform. This means you can trade the tokens stored in your wallet without first depositing them on the platform. The same goes for cashing out, you maintain control of your tokens at all times.There is no need to deposit your tokens or create an account.

The design architecture, an off-chain order book with on-chain settlement, provides a number of additional benefits. On ERC dEX, there are far fewer conditions that result in failed order fills. This setup eliminates front-running, and reduces overall trading fees. This design also means you never waiting for transfers, allowing for speedier, timely transactions.

We are proud to support ERC dEX’s mission of building towards the future of decentralized trading networks for the 0x ecosystem.

Other places you can get Dai:

DAI is gaining traction as a standard for stability across exchanges, both centralized and decentralized.

As DAI provides for an entirely decentralized option for stability, it’s a natural fit for decentralized exchanges which offer a completely trustless setup. Fiat deposits come with significant counterparty risk, as was seen in the hacking of Mt. Gox, and the seizure of BTC-e funds. DAI does not have a central issuer, there is no custodianship over any assets, and it can be created without any intermediary on a decentralized, autonomous infrastructure without gatekeepers.

You can also obtain Dai on decentralized exchanges such as:

  • OasisDex
  • RadarRelay
  • Paradex
  • DDex
  • Bancor Network

Dai is also available on traditional (centralized) exchanges, including:

  • BiBox
  • Gate.io

Outside of these decentralized exchanges, you can also generate DAI by yourself on dai.makerdao.com.

A Decentralized Future

We believe in a future that leverages the power of decentralization for trustless transactions.

With Maker, we are carrying out our vision of creating a decentralized stablecoin that will unlock unique benefits of a complete financial ecosystem on the blockchain.

Maker is a smart contract platform on Ethereum that backs and stabilizes the value of Dai through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. It is a decentralized infrastructure without a central operator.

Want to Learn More?

ERC dEX:

MakerDAO:

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