Coinbase Customers Can Start Earning DAI While Learning About The Stablecoin

Coinbase Customers Can Start Earning DAI While Learning About It

Coinbase customers around the world are now able to earn DAI by watching lessons and completing different quizzes about DAI, its features and the ecosystem. DAI is the first stablecoin that is available for users to discover through Coinbase Earn, the platform’s page created to spread the word about virtual currencies.

Coinbase Launches DAI On Coinbase Earn

Selected users will now be able to earn DAI by watching lessons and completing quizzes related to the stablecoin. DAI is a decentralized stablecoin that runs on top of Ethereum and it was designed in order to maintain its stable price of $1. Instead of being backed by a company’s reserve, the price of the digital asset remains stable using Ethereum (ETH) as collateral on the Maker (MKR) platform.

MKR tokens provide governance and DAI works as a collateral-backed stablecoin. The community has been voting on whether to increase or reduce the stability fee that the network has for loans that users take in order to help the virtual currency be close to its peg of $1.

The digital currency has been growing in the market and reaching a larger number of users around the world. Although this year the community had to increase the stability fee to maintain the peg with the U.S. dollar, there are many users very excited about the future potential of DAI on the DeFi market.

Coinbase expects earning to become an increasingly important function in the cryptocurrency ecosystem alongside buying, staking, voting and mining.

The cryptocurrency platform plans to pay out over $100 million worth of cryptocurrencies through its Earn initiative. Individuals will be able to receive up to $6 DAI, $2 for each of the lessons they approve.

Not everyone is eligible to participate in Coinbase Earn. The account should be verified and users should provide more than the basic information requested at other firms. Coinbase asks for data such as the company in which users’ work or fiscal information.