Maker’s DAI Stablecoin Makes History in Becoming First Cross-Chain ERC20 Token on Wanchain
DAI Stablecoin from Maker Makes History by Becoming the First-Ever Cross-chain ERC20 Token
DAI is a stablecoin that was created by MKR (Maker). It has gone on to make history by becoming the very first cross-chain ERC20 token. This happened moments after its beta version was listed on WAN (Wanchain). WAN is a blockchain-based platform that helps different blockchain ledgers connect and exchange their value.
According to the official announcement, which was released on the popular social media messaging app, Twitter, the token from DAI is expected to leverage on the cross-chain functionality that is being provided by Wanchain.
It is this same cross-chain functionality that made it possible for version 2.0 to go live. The version which was released earlier this year saw users get to enjoy numerous features including full ethereum interoperability. This interoperability made it possible for platform users to exchange their bitcoin for DAI in a manner that was completely decentralized.
In addition, this function means that there is a possibility that Bitcoin will at some point be added as a sort of collateral for this particular stablecoin. According to Rune Christensen, the co-founder, and CEO of MakerDAO, the team behind this development is confident that integrating DAI on WAN, and the introduction of Bitcoin integration on the same platform will lead to the emergence of new real-life use cases.
Unlocking this new use cases means that payments platforms may now start leveraging the cross-chain functionality being offered by WAN. This news has helped add to the heightened momentum already being recorded by Maker.
Maker has been bullish since the moment it decided to sell six percent of its total MKR supply for $15million to Andreessen Horowitz. MKR and WAN currently enjoy good rankings in the ALT100 (AltDEX 100 Cryptocurrency Index) where they are currently ranked at the 21st and 57th positions respectively.
More Information On Maker
Maker seeks to realize the full potential of the blockchain platform, comprising of decentralized governance, collateral loans, and a stablecoin. The DAI stablecoin is aimed at transforming the global economy by building a currency that is completely decentralized, stable, and frictionless. It is a stablecoin that will make it possible for businesses and individuals to understand the important money prospects.
DAI additionally hopes to provide ample economic opportunities for everybody. Traditionally, financial services have always selected the few, but now, everyone will have access to these services. Maker prides itself in being an open platform that provides equal access to the best financial services. This includes ensuring that everyone has access to fair credit.
A Robust Stablecoin
DAI is a hard currency backed by assets and designed to revolutionize the twenty-first century. The team behind it has designed the coin in such a way that it gets to maintain a steady rate, without restrictions and borders.
You Get to Borrow Credit On Your Own Personal Terms
Assets make it possible for you to gain additional liquidity. With this liquidity, you are now better placed to lend yourself money that is stable and secure.