common-close-0
BYDFi
Trade wherever you are!

How does Dai prevent fluctuations in its exchange rate?

avatarhasakiMar 19, 2022 · 3 years ago1 answers

Can you explain how Dai maintains a stable exchange rate and prevents fluctuations?

How does Dai prevent fluctuations in its exchange rate?
Dai
Stablecoin
Exchange Rate

1 answers

  • avatarMar 19, 2022 · 3 years ago
    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.

Related questions

common-arrow-bottom-0Load 5 more related questions
common-search-0

Related Tags

Hot Questions