Multi-Collateral DAI vs Dignity Token vs Binance USD
What problem does this service solve?
Multi-Collateral DAI is designed to enable the MakerDAO to offer new types of asset collateral and DeFI services. | Dignity is a gold backed stablecoin. It is one of several digital tokens created by Cryptobontix, that attempt to reduce price volatility by pegging them to a physical asset. | Binance USD allows traders to convert US Dollars to a digital version without trading fees. |
Token Stats
Company Description
The Multi-Collateral DAI stablecoin uses multiple types of collateral to back its value and an interest rate mechanism to stabilize its price. It is designed to be a digital currency with a stable value. MakerDAO is the decentralized autonomous organization that manages DAI and works to combat its price volatility. Multi-Collateral DAI was launched in November, 2019 and is meant to be a successor to the Single-Collateral DAI, that will eventually be phased out. The new stablecoin will enable new features to the Maker Protocol, such as the the Dai Savings Rate (DSR), as well as additional types of asset collateral. | Dignity is a stablecoin pegged to gold, that was developed by the company Cryptobontix. Each DIG token is pegged to the worth of 0.02445 grams of gold, which was worth exactly $1.00 at the time of the Dignity whitepaper. | Binance USD stablecoin is backed by US Dollars, and is issued in partnership by Binance and Paxos. The coin is approved by the New York State Department of Financial Services (NYDFS), and allows traders to convert US Dollars to a digital version without trading fees. |