23rd
March, 2020, Singapore – Community-driven exchange BiKi.com is pleased to announce that it has
listed DAI,
a stablecoin on the protocol MakerDAO.
Known as the largest decentralized stablecoin, it is also the second
largest stablecoin overall in terms of collateral value.
“BiKi is pleased to have many of the top
100 coins listed with us over the last month, and now DAI has joined too,” said
Ethan Ng,
Southeast Asia CEO of BiKi.com. “We are honored that such a popular
project has placed their trust in us to provide
exceptional listing services as we stay true to our promise of helping projects
grow in top crypto markets like China, South Korea and Vietnam, through
continuous branding exposure. Already a well-known project, I have no doubt
in DAI’s potential to thrive and play a part in the flourishing of the DeFi
ecosystem.”
Then follow us on Google News!
This listing sees BiKi.com offering DAI trading as well as Dai Savings Rate (DSR) to its
platform users. A variable rate of accrual earned by locking DAI in the DSR
smart contract, DSR allows DAI holders to earn savings automatically and
natively while retaining control of their DAI. With no withdrawal limits,
deposit limits or liquidity constraints, users can freely enter in and out of
the DSR, only needing to pay the ETH fee.
The DSR is also a monetary policy tool used
as a global parameter that can be raised or lowered by Maker (MKR) on-chain
governance to influence demand for the DAI token. When DSR is raised it
incentivizes users to hold more DAI, creating more demand, while the opposite
effect occurs when DSR is lowered. The decentralized community of MKR token
holders govern the MKR Protocol, the smart contracts that power DAI.
“The
inherent efficiency of the Maker Protocol and, by extension, the DeFi
ecosystem, are what allow the DSR to provide great savings opportunities for
people everywhere,” said Rune Christensen, CEO of MakerDAO.
“The most amazing aspects of the DSR are
that it has no counterparty credit risks and it can be implemented on the
backend of any DeFi product that uses Dai,” he added.
“We are excited to see BiKi Exchange offer
DAI trading and DSR,” said Doo Wan Nam,
MakerDAO Business Development. “We hope the integration
of Dai and DSR will increase Dai use cases and awareness. Ranging from loans to
games to remittance, Dai hedges users from volatility while providing financial
freedom. The world’s first unbiased currency.”
Unlike
most stablecoins that are fiat-backed and centralized, DAI is crypto-based and
decentralized. It is also widely used and
recognized, having over 550 live Dai integrations, such as that with UNICEF,
and the numbers are growing. Derived from the Chinese character 貸, meaning to lend or provide capital for a loan, the original Dai (now Sai) Stablecoin
System was launched in December 2017. Then in November 2019, the current Dai
system was launched. The new
Multi-Collateral Dai (MCD) upgrades the Single-Collateral Dai (Sai) and
includes the DSR feature, allowing DAI holders everywhere to better power their
journeys to financial inclusion.
Currently over USD 714 million worth of assets is locked in the system including around USD 66.5 million locked for DSR which is over 55% of total DAI. MakerDAO has received investments from top funds such as Andreessen Horowitz, Polychain and Dragonfly Capital. MakerDAO joins the ranks of other projects like Dash, Electroneum and Matic, who were listed on the BiKi platform over the past month. Increasingly gaining the attention of popular tokens in the industry, BiKi’s listing services include continuous branding exposure, community building with key influencers as well as joint campaigns. These attractive benefits will continue to attract premium projects for listing on the community-driven exchange.
About
BiKi.com
Headquartered in
Singapore, BiKi.com is a global cryptocurrency exchange
ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for
trading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is
focused on providing the safest, most stable and most effective cryptocurrency
trading platform. 100% of the transaction fees are used in buyback and burning
of platform token, BIKI. Since its official opening in August 2018, BiKi.com is
considered one of the fastest-growing cryptocurrency exchanges in the world
with an accumulated 2 million registered users, 200,000 daily active users,
over 2,000 community partners and 200,000 community members. BiKi.com has
received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai
Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.
Media Contact:
Marketing Team
Chang Jie Lin, BiKi.com
[email protected]
+65-94556702
Cecilia Wong, yourPRstrategist.com
[email protected]
+65-91826605
