DAIE
Dai (Avalanche Bridge)
Dai (Avalanche Bridge)
DAIE
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About Dai (Avalanche Bridge)
What is DAI (Avalanche Bridge) (DAI.e)?
DAI (Avalanche Bridge) (DAI.e) is a version of the DAI stablecoin that has been bridged from the Ethereum blockchain to the Avalanche blockchain via the Avalanche Bridge. DAI is a decentralized stablecoin pegged to the US dollar, maintaining a 1:1 value ratio. The "e" in DAI.e denotes that it was originally an ERC-20 token on Ethereum, now available on Avalanche to utilize the platform’s enhanced transaction speed and reduced costs.
What is DAI (Avalanche Bridge) (DAI.e) used for?
DAI.e serves as a medium of exchange, store of value, and unit of account within the Avalanche DeFi ecosystem. It facilitates stable transactions in trading, lending, and liquidity provision across decentralized finance (DeFi) platforms on Avalanche. The transition to Avalanche seeks to capitalize on the network’s lower transaction fees and faster block times, enhancing usability and accessibility for DeFi participants.
Who created DAI (Avalanche Bridge) (DAI.e)?
The bridging of DAI to the Avalanche network, resulting in DAI.e, was orchestrated by the Avalanche Bridge, developed by Ava Labs. This bridge leverages Intel SGX technology to ensure the secure and efficient transfer of assets. The operation is supported by a consortium of trusted partners known as Wardens, who manage the bridge’s integrity and the security of cross-chain transactions, ensuring the stablecoin’s functionality and trust within the Avalanche ecosystem.
DAI (Avalanche Bridge) (DAI.e) is a version of the DAI stablecoin that has been bridged from the Ethereum blockchain to the Avalanche blockchain via the Avalanche Bridge. DAI is a decentralized stablecoin pegged to the US dollar, maintaining a 1:1 value ratio. The "e" in DAI.e denotes that it was originally an ERC-20 token on Ethereum, now available on Avalanche to utilize the platform’s enhanced transaction speed and reduced costs.
DAI.e serves as a medium of exchange, store of value, and unit of account within the Avalanche DeFi ecosystem. It facilitates stable transactions in trading, lending, and liquidity provision across decentralized finance (DeFi) platforms on Avalanche. The transition to Avalanche seeks to capitalize on the network’s lower transaction fees and faster block times, enhancing usability and accessibility for DeFi participants.
The bridging of DAI to the Avalanche network, resulting in DAI.e, was orchestrated by the Avalanche Bridge, developed by Ava Labs. This bridge leverages Intel SGX technology to ensure the secure and efficient transfer of assets. The operation is supported by a consortium of trusted partners known as Wardens, who manage the bridge’s integrity and the security of cross-chain transactions, ensuring the stablecoin’s functionality and trust within the Avalanche ecosystem.
