08 Jun 2021 Arjun Agarwal
Dai And Matic Now Listed On Cryptal
Cryptal Exchange has now added support for MakerDAO’s DAI Stablecoin and Polygon MATIC. Both DAI and MATIC can be bought and sold with USD, GEL, and BTC.
Dai was the first stablecoin to be issued on the Ethereum blockchain in 2017. It is managed by the MakerDAO foundation, which maintains and regulates it but does not determine its value. Rather, it is “soft-pegged” to the US Dollar, meaning that it is a truly decentralized asset. Its price is determined by the market through collateralized smart contracts, which allow new DAI tokens to be issued through loans.
Cryptal CEO Kvicha Kopinadze explained the decision to add DAI, noting that “adoption and market growth of DeFi has reached astonishing heights this year, boosting the demand for a true DeFi stable coin. DAI as a fully decentralized digital stable currency has earned high praise in the industry, making it a strong competitor to the more traditional stable coins, such as USDT or USDC.”
Polygon (formerly known as Matic Network) also began in 2017 and is Ethereum’s Internet of Blockchains. It is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its token, MATIC, secures the system and enables governance.
About Cryptal
Cryptal is a global exchange that makes it fast, easy, and safe to buy and sell digital currencies. Cryptal’s parent company, CryptX, has been delivering world-class crypto and blockchain services since 2018.
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