Many best cryptocurrency news sites are reporting about the latest addition of a stablecoin on the Coinbase Earn program. The news that Coinbase adds DAI as its first stablecoin to the Earn program have spread everywhere.
With this, DAI is the second addition to the crypto unicorn and its education initiative this month – right after the announcement of EOS support on June 1 which was featured in the latest cryptocurrency news. For those of you who don’t know, Coinbase Earn allows users to receive cryptocurrency in exchange for watching videos and completing quizzes about different protocols.
As Coinbase adds DAI, it becomes the first stablecoin to be added to the Coinbase Earn program. Currently, the program has EOS, XLM, ZEC, BAT and ZRX in it. As an official post published by the company on Medium noted:
“Coinbase strives to be a trusted source where customers can educate themselves about new developments in crypto, and we’re excited to offer people a new opportunity to learn about and earn DAI.”
The exchange also said that it plans to pay out more than $100 million worth of cryptocurrencies through its Earn initiative. Users appreciated the news that Coinbase adds DAI and are now enthusiastic considering the fact that they could receive up to $6 in the stablecoin, or $2 for each lesson.
The post describing how Coinbase adds DAI also noted the following:
“We expect earning to become an increasingly important function in the crypto ecosystem — alongside buying, staking, voting, and mining — especially when paired with education.”
Meanwhile, as the DAI whitepaper shows it, DAI is a decentralized stablecoin that runs on Ethereum and is designed with a goal of maintaining a target value of approximately $1 USD. It is backed by collateral on the Maker (MKR) platform, and the relevant whitepapers explain that MKR and DAI tokens form a paired set of assets in which MKR provides governance while DAI is a decentralized and collateral-backed stablecoin.
The coming altcoin news showed that after losing the dollar peg earlier this year, DAI has righted the ship over the past few weeks and maintained a steady dollar valuation.
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“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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