BiKi.com Offers DAI Trading and DAI Savings Rate DSR
“BiKi is thrilled to have several of the top 100 coins listed with us during the past month, and now DAI has joined as well, making the total number of coins listed with us 102. We are humbled by the fact that such a well-known project has put their faith in us to deliver outstanding listing services. This demonstrates that we are keeping our promise to assist projects in expanding their presence in leading cryptocurrency markets such as China, South Korea, and Vietnam by providing continuous branding exposure. DAI is already a well-known initiative, and I have no doubt that it has the capacity to flourish and play a part in the growth of the DeFi ecosystem.
Users of the BiKi.com site will soon have access to DAI trading as well as the Dai Savings Rate (DSR). The Dai Savings Rate is a variable rate of accrual that is obtained by locking DAI in the DSR smart contract. This earns the user the DSR. It gives holders of DAI the ability to generate savings automatically and natively while allowing them to keep control of their DAI at the same time. There are no boundaries placed on the amount that can be withdrawn, deposited, or the overall liquidity. Users are not restricted in any way while entering or leaving the DSR; the only requirement is that they pay the ETH charge.
The DSR, which is a monetary policy instrument that acts as a global parameter, can be raised or lowered by the Maker (MKR) on-chain governance system in order to impact the demand for the DAI token. When the DSR is increased, users will be incentivized to hold more DAI, which will ultimately lead to an increase in demand. When the DSR is made lower, the effect that is produced is the opposite. The decentralised community of MKR token holders operates as the protocol’s governing body. The MKR Protocol is responsible for the smart contracts that underpin 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 all over the world,” stated Rune Christensen, CEO of MakerDAO. “The DSR is what allows the Maker Protocol to provide great savings opportunities for people all over the world.”
Christensen stated, “The most astounding features of the DSR are that it does not have any counterparty credit risks, and it can be put on the backend of any DeFi product that uses Dai.”
Doo Wan Nam, who is in charge of MakerDAO’s business development, expressed his delight at seeing that BiKi Exchange now offers DAI trading and DSR.
Doo expressed the hope that the integration of Dai and DSR will lead to an increase in the number of use cases and awareness of Dai. “Dai’s services, which include lending, gaming, and money transfer, not only liberate people financially but also protect them from market fluctuations. The world’s first money that is completely neutral.”
In contrast to the majority of stablecoins, which are backed by fiat currency and managed by a central authority, DAI operates on a blockchain and is decentralised. It is well known and utilised, and it currently has over 550 live Dai integrations, like as the one with UNICEF, with these numbers continuing to rise. The given name Dai originates from the Chinese character meaning lending or providing funds for a loan, which is pronounced “dai.” After that, the initial Dai Stablecoin System, which is now known as Sai, was released in December of 2017, and the current Dai system was released in November of 2019. The Single-Collateral Dai has been superseded by the newer and more advanced Multi-Collateral Dai (MCD) (Sai). With the integration of the DSR feature, MCD makes it possible for DAI holders all across the world to accelerate their progress toward financial inclusion.
With more than USD714 million worth of assets currently locked in the system, including USD66.5 million locked for DSR, which accounts for more than 55 percent of total DAI, MakerDAO has received investments from top funds such as Andreessen Horowitz, Dragonfly Capital, and Polychain. These investments bring the total value of assets locked in the system to over USD714 million.
MakerDAO has now joined the ranks of other projects like as Dash, Electroneum, and Matic thanks to this listing. Over the course of the past month, all of them were added to the BiKi platform, which is a platform that has been getting an increasing amount of attention from popular tokens in the sector. BiKi’s project listing services include giving projects continuous branding exposure, community building with key influencers, and also jointly organised campaigns. All of these advantageous features are attractive benefits that will continue to attract choice projects interested in listing on the community-driven exchange.
BiKi.com is a global cryptocurrency exchange that is listed in the Top 20 on CoinMarketCap. The company’s headquarters are located in Singapore. More than 150 cryptocurrencies and 280 trading pairs can be traded on the BiKi.com digital assets platform, which is provided by the company. BiKi.com is committed to offering the cryptocurrency trading platform that is at once the most secure, the most reliable, and the most successful. One hundred percent of the funds from the transaction fees are used toward the buying back and destroying of the platform token known as BIKI. Since it first opened its doors to the public in August 2018, BiKi.com has been recognised as one of the cryptocurrency exchanges with the most rapid expansion worldwide. The website currently has over 2 million registered users, 200,000 daily active users, over 2,000 community partners, and 200,000 community members. Investments in the amount of roughly 10 million USD have been made in BiKi.com by a variety of parties, including Huobi co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP, and others.