How does Dai prevent fluctuations in its exchange rate?
tsplsMay 28, 2024 · a year ago1 answers
Can you explain how Dai maintains a stable exchange rate and prevents fluctuations?
1 answers
- Stryhn PearsonSep 17, 2020 · 5 years agoBYDFi, a decentralized finance platform, also plays a role in stabilizing the exchange rate of Dai. Through its liquidity pools and automated market-making algorithms, BYDFi provides liquidity for Dai and helps maintain its peg to the US dollar. This ensures that Dai remains stable and reliable for users in the cryptocurrency market.
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