Kyber Network Lists Its First Stablecoin

Those of us who have been trading cryptocurrencies for a while have grown used to the daily price fluctuations that make this market so unique. In fact, many of us trade cryptocurrencies precisely because of these fluctuations and the opportunities for profit that come along with such volatility.

To the layperson, however, this instability is frankly terrifying, and is oftentimes the reason they shy away from venturing into the crypto-space. If we ever hope to bring the crypto-economy to the masses, we need to provide stability within this volatile market.

This is where stablecoins come in. Stablecoins are cryptocurrencies that are pegged to stable fiat assets, such as the U.S. Dollar or gold. However, unlike the U.S. Dollar or gold, stablecoins are not controlled by centralized banks or governments. Instead, stablecoins provide the stability that comes with established fiat currencies, while also providing the transparency and decentralization that comes with blockchain technology.

Stablecoins are the key to blockchain mainstream adoption for numerous reason. They provide the long-term stability that allows new traders to achieve peace of mind, which naturally makes the crypto-space much more accessible and appealing for the layperson. Furthermore, unlike other cryptocurrencies that experience frequent price fluctuations, stablecoins provide the short-term stability that makes them perfect for daily transactions. The use of stablecoins in everyday transactions will be an essential step that helps businesses and people transition towards the crypto-economy and away from the fiat.

Kyber Network is well aware of the importance of these coins within the crypto-market, and so we have decided to list a DAI on our exchange starting on Monday April 16th.

DAI is a trustless, transparent, and decentralized stablecoin that is collateral-backed and soft-pegged to the price of one U.S. dollar. It is sold and controlled by Maker, whose smart contract is fully inspectable on the Ethereum blockchain. Maker created DAI with the express purpose of promoting blockchain mainstream adoption. They believe that stablecoins are the best currencies for direct payments and collateral provision, and so they created a coin that is perfect for both.

Kyber Network will be listing DAI on the exchange on April 16! We expect this will be a significant step towards making the crypto-space more reliable, more widely used, and more accessible.

About Kyber Network

Kyber Network is a decentralized and trustless exchange service that facilitates instant conversion of crypto-assets with guaranteed liquidity. Our protocol will be key to promote liquidity of crypto-assets in the blockchain ecosystem, and improve the perception of tokens as a tradable asset class to the greater public.

These are the ONLY official channels affiliated with Kyber Network:

Reddit: https://www.reddit.com/r/kybernetwork/
Slack: https://slack.kyber.network/
Telegram group: https://t.me/kybernetwork
Telegram channel: https://t.me/officialkybernetwork
Telegram (Korean): https://t.me/kyberkorea (for Korea)
Medium: https://blog.kyber.network/