No, currently DAI is backed by Ethereum. You only need to spend one minute on th... | Hacker News

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wegwerfbenutzer on June 29, 2018 | parent | context | favorite | on: Crypto Coin Tether Defies Logic on Kraken’s Market...

No, currently DAI is backed by Ethereum. You only need to spend one minute on their website or subreddit to get this information. I follow them for a long time and never even heard of them being backed by fiat. They only try to use virtual goods like virtual gold, cryptocurrencies etc. as collateral.

RexetBlell on June 30, 2018 | [–]

Dai is not backed by Ethereum. Dai is backed by Ether.

rthomas6 on June 30, 2018 | | [–]

Okay Mr. Pedant. Actually Dai isn't backed by either one. It's backed by an ERC-20 token called Pooled Ether.

drcode on June 30, 2018 | [–]

Virtual gold is not "backed by ethereum" it is backed by gold. These are obviously the third parties I'm talking about.

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