China-based cryptocurrency marketplace OKEx today announced that it would allow its users to take advantage of the Dai Savings Rate (DSR).
From December 23rd OKEx users will be able to stake DAI on the platform and earn, not only the DAI interest, but an additional reward that’s exclusive only to OKEx users.
DAI is a decentralized stablecoin built on the Ethereum blockchain. Unlike other stablecoins, DAI is not backed by capital. It is coded into smart contracts, which are designed to respond to market dynamics, which helps it maintain US dollar peg.
The DSR is DAI’s savings account and is available to anybody anywhere in the world. It offers anyone who stakes DAI an annual interest rate, which is governed by Maker Governance and is currently at 4%. There are no fees and no minimum or maximum deposits, and users can deposit or withdraw at anytime they like. Read More…