Ma Yun’s "310" lending model—3-minute application, 1-second disbursement, 0 human interaction—isn’t exclusive to Alipay’s Ant Credit. Blockchain achieves this through decentralized platforms like MakerDAO and its stablecoin, Dai.
1. What Is Dai?
Dai is a decentralized stablecoin on Ethereum, pegged 1:1 to the USD. Unlike centralized stablecoins (e.g., USDT), Dai maintains stability via overcollateralization with crypto assets like ETH.
Key Features:
- ERC-20 Token: Compatible with Ethereum wallets.
- Algorithmic Stability: Adjusts supply/demand dynamically.
- Transparent: Real-time audits via MakerScan.
2. How to Get Dai?
Step 1: Open a Collateralized Debt Position (CDP)
- Deposit ETH into MakerDAO’s smart contract.
- Minimum 150% collateralization (e.g., $1,500 ETH → max $1,000 Dai).
Step 2: Manage Risks
- Liquidation Risk: If ETH’s value drops below borrowed Dai, the ETH is sold automatically.
- Safety Tip: Use higher collateral ratios (e.g., 300%) to buffer volatility.
Step 3: Repay & Reclaim
Pay interest in Dai to retrieve your ETH.
👉 Explore Dai’s lending mechanics
3. Dai’s Market Position
- Current Stats: $82.38M Dai borrowed, backed by 1.64M ETH (as of June 11).
- Advantage Over USDT: Fully transparent reserves.
- Risk: ETH price crashes could trigger mass liquidations.
FAQ
Q1: Is Dai better than USDT?
A: For transparency—yes. But USDT has higher liquidity.
Q2: How is Dai’s stability maintained?
A: Through ETH collateral and automated supply adjustments.
Q3: Can Dai’s peg break?
A: Rarely. The system incentivizes arbitrage to restore the peg.
Q4: What’s the interest rate for borrowing Dai?
A: Determined by MakerDAO governance votes.
Final Thoughts
Dai exemplifies blockchain’s potential to mirror traditional finance’s efficiency while enhancing transparency. Its "310" model proves decentralized lending can rival centralized services.