Coinbase Extends Its Support To Ethereum-Based Dai Stablecoin

by | Jun 11, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Coinbase | Dai | Stablecoin | Cryptocurrency Exchange

A Major crypto platform Coinbase adds a special course on MakerDao’s stablecoin Dai at its educational portal Coinbase Earn, as per an official blog post by Coinbase on June 10.

The post states that Dai is the first stablecoin covered by Coinbase Earn. The course will offer videos and quizzes that will aid users to learn about the token and receive an incentive for their efforts in the form of Dai. 

The announcement summarizes that the Ethereum-based stablecoin Dai is backed by its sister token maker (MKR) and is balanced around retaining a stable value of $1 over time. The exchange first announced about the addition on May 23. Coinbase commented at the time that the token would be available in most jurisdictions with the exception of New York. 

Reportedly, Dai has been worth less than a dollar for much of 2019, lower than its stated goal. This sparked at least five voting sessions centered on rebalancing the coin’s value via increasing its stability fee.  Coinbase further comments that it anticipates a general growth in earnings into a relevant crypto-based activity, ranking alongside the known areas of buying, staking, voting, and mining.

Read more: CCN Shuts Down Citing Google’s Update As A Reason

Image source – Coinbase Twitter

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