{"id":6807,"date":"2023-02-10T17:06:50","date_gmt":"2023-02-10T16:06:50","guid":{"rendered":"https:\/\/walloftraders.com\/blog\/?p=6706"},"modified":"2023-07-05T00:56:10","modified_gmt":"2023-07-04T23:56:10","slug":"stablecoin-dai-2","status":"publish","type":"post","link":"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/","title":{"rendered":"Stablecoin Dai: Everything you need to know"},"content":{"rendered":"\n<p>The world of finance has evolved rapidly over the past few years with the arrival of new technologies such as blockchain and cryptocurrencies. The Dai <strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoins-what-you-need-to-know\/\">stablecoin <\/a><\/strong>is one such new player that is attracting the attention of many investors and users. But what exactly is the Dai stablecoin and how does it work? This article will tell you everything there is to know about this stablecoin.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#stablecoin_Dai_A_decentralized_stablecoin_at_the_forefront_of_modern_finance\" >stablecoin Dai: A decentralized stablecoin at the forefront of modern finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#How_does_the_Dai_stablecoin_work_%E2%80%93_A_guarantee_system_to_maintain_the_stability_of_the_value\" >How does the Dai stablecoin work? &#8211; A guarantee system to maintain the stability of the value<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#The_advantages_of_Dai_%E2%80%93_Stability_security_and_flexibility\" >The advantages of Dai &#8211; Stability, security and flexibility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#How_to_use_Dai\" >How to use Dai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#Prospects_for_the_future_of_Dai\" >Prospects for the future of Dai<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"stablecoin_Dai_A_decentralized_stablecoin_at_the_forefront_of_modern_finance\"><\/span>stablecoin Dai: A decentralized stablecoin at the forefront of modern finance <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"478\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50-1024x478.png\" alt=\"stablecoin Dai: A decentralized stablecoin at the forefront of modern finance\" class=\"wp-image-6800\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50-1024x478.png 1024w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50-300x140.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50-768x358.png 768w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50-1536x717.png 1536w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-50.png 1800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Dai is an innovative stablecoin, designed to provide real-time monetary stability in an ever-changing world. It is different from other cryptocurrencies in that it is decentralized. This means that it is not controlled by a centralized financial institution. It is one of the new technologies developed by MakerDAO, a decentralized lending platform based on the Ethereum blockchain.<\/p>\n\n\n\n<p>Dai is designed to be stable in terms of value. It is therefore intended to have a value close to 1 <strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/dollar-cost-averaging-for-dca-explanations\/\">dollar<\/a><\/strong>. This stability is maintained thanks to a guarantee system in ETH (Ethereum). For each Dai stablecoin created, a certain amount of ETH must be deposited as collateral. If Dai&#8217;s value drops, the amount of ETH needed as collateral increases to keep Dai&#8217;s value stable.<\/p>\n\n\n\n<p>The main objective of Dai is to allow users to trade without being affected by market fluctuations. It is designed to be used as a stable alternative to other volatile cryptocurrencies for investors, as well as for day-to-day payments and transactions. In summary, Dai is a decentralized stablecoin that offers a new way to manage money in an ever-changing world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_the_Dai_stablecoin_work_%E2%80%93_A_guarantee_system_to_maintain_the_stability_of_the_value\"><\/span>How does the Dai stablecoin work? &#8211; A guarantee system to maintain the stability of the value<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-51.png\" alt=\"How does the Dai stablecoin work? - A guarantee system to maintain the stability of the value\" class=\"wp-image-6801\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-51.png 800w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-51-300x169.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-51-768x432.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p>Dai works through a collateral system in ETH (Ethereum). For each Dai stablecoin created, a certain amount of ETH must be deposited as collateral. This warranty system is managed by the MakerDAO platform. It keeps the value of Dai stable.<\/p>\n\n\n\n<p>If Dai&#8217;s value drops, the amount of ETH needed as collateral increases to keep Dai&#8217;s value stable. In this way, Dai always remains close to the value of a dollar. That is why it is a stable option for trading and investing.<\/p>\n\n\n\n<p>To use Dai, users can convert it from ETH through the MakerDAO platform. They can also use it to make online or in-store payments, or to make investments. The Dai stablecoin can be converted into any other cryptocurrency or fiat currency. So it is a flexible choice for users.<\/p>\n\n\n\n<p>In summary, Dai works through an ETH collateral system that keeps the value of the Dai stablecoin stable. It is easy to use and can be converted to any other cryptocurrency or fiat currency. It is a flexible choice for transactions and investments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_advantages_of_Dai_%E2%80%93_Stability_security_and_flexibility\"><\/span>The advantages of Dai &#8211; Stability, security and flexibility <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"600\" height=\"315\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-52.png\" alt=\"The advantages - Stability, security and flexibility\" class=\"wp-image-6802\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-52.png 600w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-52-300x158.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/figure><\/div>\n\n\n<p>Dai offers many benefits for users. First of all, it guarantees a stable value. Unlike other cryptocurrencies which can vary in value significantly over time. Dai is designed to stay close to the value of a dollar. This makes it ideal for transactions and investments that require stable value.<\/p>\n\n\n\n<p>Also, Dai is secure. The ETH collateral system helps ensure the stability of Dai&#8217;s value and protects users from unexpected market fluctuations. Additionally, the Dai stablecoin is built on the Ethereum platform, which provides additional security for users.<\/p>\n\n\n\n<p>Finally, Dai is flexible. It can be converted into any other cryptocurrency or fiat currency. It is therefore an ideal choice for users looking to diversify their portfolio. Additionally, the Dai stablecoin can be used to make online and in-store payments. It is a practical option for daily users.<\/p>\n\n\n\n<p>In summary, Dai offers stable value, strong security, and maximum flexibility for users. It is an ideal option for online and in-store transactions, investments and payments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_use_Dai\"><\/span>How to use Dai? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53-1024x512.png\" alt=\"How to use\" class=\"wp-image-6803\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53-1024x512.png 1024w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53-300x150.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53-768x384.png 768w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53-1536x768.png 1536w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-53.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Using Dai is simple and easy. To start, you need to have an Ethereum compatible wallet to store your Dai. There are many online wallet options, including dedicated Dai wallets. They provide additional security for your funds.<\/p>\n\n\n\n<p>Once you have a wallet, you can buy the Dai stablecoin using fiat currency or another cryptocurrency. You can make this purchase on an online exchange platform or from an authorized reseller.<\/p>\n\n\n\n<p>Once you have purchased the Dai stablecoin, you can use it to transact online or in-store, or keep it as an investment. You can also convert Dai to another cryptocurrency or fiat currency if you wish.<\/p>\n\n\n\n<p>Finally, you can also use Dai to participate in the governance of the <a href=\"https:\/\/makerdao.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>MakerDAO platform<\/strong><\/a>, which manages Dai. Dai holders can vote on important decisions that affect the platform. This gives them some level of control over the system.<\/p>\n\n\n\n<p>In summary, using Dai is easy and accessible for everyone. All you have to do is get a compatible wallet, buy the Dai stablecoin and start using it for transactions, investments or to participate in the governance of the MakerDAO platform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prospects_for_the_future_of_Dai\"><\/span>Prospects for the future of Dai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-54-1024x640.png\" alt=\"Prospects for the future \" class=\"wp-image-6804\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-54-1024x640.png 1024w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-54-300x188.png 300w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-54-768x480.png 768w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2023\/02\/image-54.png 1080w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The future of Dai looks very bright, with growing adoption and ever more diverse usage. With increasing demand for stable and reliable cryptocurrency payment options, Dai is expected to continue to grow and expand.<\/p>\n\n\n\n<p>In addition, the MakerDAO platform is constantly modernizing to meet the needs of its users and to offer additional functionalities. For example, plans are underway to add new stablecoins to the platform, to expand lending and credit possibilities, and to strengthen the platform&#8217;s security.<\/p>\n\n\n\n<p>In addition, the use of Dai for participation in the governance of the MakerDAO platform is also expected to continue to grow. Dai holders can take an active role in decisions that affect the system, which can build trust in the platform and encourage adoption of Dai.<\/p>\n\n\n\n<p>Finally, the cryptocurrency industry in general continues to develop rapidly, providing new opportunities for the Dai stablecoin and the MakerDAO platform. With an uncertain future for fiat currencies, Dai could become a key player in the ever-changing global economy.<\/p>\n\n\n\n<p>In summary, the outlook for Dai&#8217;s future is very promising. With growing adoption, ever-diversifying usage, and an ever-changing platform, Dai is expected to continue to grow and expand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In summary, Dai is a decentralized stablecoin that offers many advantages over traditional financial systems. It is easy to use, stable in terms of value, and gives users full control over their funds. With a promising future, it is certain that the stablecoin Dai will continue to grow in popularity and become an important player in the world of decentralized finance.<\/p>\n\n\n\n<p>You will surely like our other articles on the main Stablecoin facts, for example: \u201c<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-tether-usdt-a-stablecoin\/\">Tether<\/a><\/strong>: the controversial stablecoin leader\u201d, \u201c<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/frax-stablecoin-3\/\">Frax<\/a><\/strong>: a newcomer to the world of stablecoins\u201d, \u201c<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/usd-coin-3\/\">USD Coin<\/a><\/strong>: a stablecoin supported by the most major cryptocurrency company\u201d, \u201c<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/\">Dai<\/a><\/strong>: a decentralized Ethereum-based stablecoin\u201d and \u201c<strong><a href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-busd\/\">BUSD<\/a><\/strong>: Binance\u2019s stablecoin for use in exchanges and DeFi\u201d.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-social-warfare-social-warfare\"><div class=\"swp_social_panel swp_horizontal_panel swp_flat_fresh  swp_default_full_color swp_individual_full_color swp_other_full_color scale-100  scale-\" data-min-width=\"1100\" data-float-color=\"#ffffff\" data-float=\"none\" data-float-mobile=\"none\" data-transition=\"slide\" data-post-id=\"6807\" ><div class=\"nc_tweetContainer swp_share_button swp_twitter\" data-network=\"twitter\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intent\/tweet?text=Stablecoin+Dai%3A+Everything+you+need+to+know&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F&via=WallOfTraders\" data-link=\"https:\/\/twitter.com\/intent\/tweet?text=Stablecoin+Dai%3A+Everything+you+need+to+know&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F&via=WallOfTraders\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_twitter_icon\"><\/i><span class=\"swp_share\">Tweet<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_facebook\" data-network=\"facebook\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F\" data-link=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_facebook_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_linkedin\" data-network=\"linkedin\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F\" data-link=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_linkedin_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_pinterest\" data-network=\"pinterest\"><a rel=\"nofollow noreferrer noopener\" class=\"nc_tweet swp_share_link noPop\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fstablecoin-dai-2%2F\" onClick=\"event.preventDefault(); \r\n\t\t\t\t\t\t\tvar e=document.createElement('script');\r\n\t\t\t\t\t\t\te.setAttribute('type','text\/javascript');\r\n\t\t\t\t\t\t\te.setAttribute('charset','UTF-8');\r\n\t\t\t\t\t\t\te.setAttribute('src','\/\/assets.pinterest.com\/js\/pinmarklet.js?r='+Math.random()*99999999);\r\n\t\t\t\t\t\t\tdocument.body.appendChild(e);\r\n\t\t\t\t\t\t\" ><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_pinterest_icon\"><\/i><span class=\"swp_share\">Pin<\/span><\/span><\/span><\/span><\/a><\/div><\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em>This article is not investment advice. Do your own research before investing in the cryptocurrency market.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world of finance has evolved rapidly over the past few years with the arrival of new technologies such as blockchain and cryptocurrencies. The Dai stablecoin is one such new player that is attracting the attention of many investors and users. But what exactly is the Dai stablecoin and how does it work? This &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Stablecoin Dai: Everything you need to know\" class=\"read-more button\" href=\"https:\/\/walloftraders.com\/blog\/en\/stablecoin-dai-2\/#more-6807\" aria-label=\"More on Stablecoin Dai: Everything you need to know\">Read more<\/a><\/p>\n","protected":false},"author":7,"featured_media":6815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38],"tags":[],"class_list":["post-6807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stablecoin Dai: Everything you need to know<\/title>\n<meta name=\"description\" content=\"Learn all about Stablecoin Dai: how it works, benefits and uses. 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