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TagsHow does Dai prevent fluctuations in its exchange rate?
QielMar 19, 2022 · 3 years ago1 answersCan you explain how Dai maintains a stable exchange rate and prevents fluctuations?
1 answers
- BYDFi, 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.Mar 19, 2022 · 3 years ago
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