Multi-Collateral DAI vs Dignity Token vs BitBay
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. | BitBay's goal is to create a stable cryptocurrency that is not pegged to another asset. |
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. | BitBay is developing a decentralized marketplace based on a non-colateralized stablecoin. Unlike other stabelcoins, BitBay is stabilized with a dynamic peg that is meant to reduce volatility without anchoring the price to another asset. The network has a Proof-of-Stake (PoS) consensus mechanism. |