💸 In 2025, the global payment system vs payments via stablecoins! https://t.co/M0NfexeUhy
💸 In 2025, the global payment system vs payments via stablecoins! https://t.co/M0NfexeUhy
2025 payments volume https://t.co/JMp8k54dnX
its actually insane how few people who started crypto post 2023 know about $DAI and how important it was and how the idea and concept of it is even more important today than ever before
RIP
today is Nikolai Mushegian's (@delete_shitcoin) 33rd birthday.
here's to a genius who dared to see things for what they are and call them by their true names—and, most importantly, when he saw something wrong, he built the tools to make it right.
Nikolai was a builder in the truest sense. he spent most of his life and energy crafting elegant systems to realize his vision of a permissionless future—on-chain financial protocols, various smart contract logic, standards and programming languages.
he didn't focus on describing or popularizing his projects, let alone making profit or even getting recognition. he was decades ahead of this world, which makes it even more difficult to do justice to the rich heritage he left. I won't try that right now.
but, to give a few ideas, he pioneered permissionless electronic credit systems as the inventor of MakerDAO (https://t.co/9BnrrzLUv1) and the dai stablecoin, giving rise to what's known as decentralized finance. with the Rico Credit System (@ricocreditsys) and the
DAI is an Ethereum-based stablecoin (stable-price cryptocurrency) whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization.
The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted.
It is important to differentiate between Multi-Collateral DAI and Single-Collateral DAI (SAI), an earlier version of the token that could only be collateralized by a single cryptocurrency; SAI also doesn’t support the DAI Savings Rate, which allows users to earn savings by holding DAI tokens.
Multi-Collateral DAI was launched in November 2019.