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0/ $DAI - The Holy Grail of Crypto
1/ Some thoughts on $DAI, why we chose it at @SportX_Project, and how we can bootstrap adoption further with mainstream users
2/ @MakerDAO achieved the holy grail of crypto with $DAI:
A censorship-resistant, collateral-backed stable coin
A censorship-resistant, collateral-backed stable coin
3/ By eliminating volatility and the requirement for a trusted intermediary, MakerDAO has created a stable, trustless medium of exchange for the decentralized finance ecosystem
4/ The growth in $DAI over the last 12 months has been staggering:
5/ $DAI has been the reserve currency of @SportX_Project since our initial beta launch in 2019
We've incorporated other currencies (like $ETH), but the vast majority of trades are still done in $DAI
We've incorporated other currencies (like $ETH), but the vast majority of trades are still done in $DAI
6/ While the MakerDAO CDP/DAI system is technically impressive, we’ve found that non-crypto users struggle with the complexity.
This has hurt adoption for us, and for the $DAI ecosystem at large.
This has hurt adoption for us, and for the $DAI ecosystem at large.
7/ $DAI mainstream adoption is a simple formula with three factors:
Easy Access + 
Use Cases + 
Education
We'll explore each in more detail:
Easy Access + Use Cases + EducationWe'll explore each in more detail:
8/ Easy Access
Mainstream users have had difficulty in the past buying converting fiat currency into DAI...
Thankfully, businesses like @MoonPayHQ @sendwyre @RampNetwork @PayTrie @bitbuy are making it easier and easier to access every day
Easy AccessMainstream users have had difficulty in the past buying converting fiat currency into DAI...
Thankfully, businesses like @MoonPayHQ @sendwyre @RampNetwork @PayTrie @bitbuy are making it easier and easier to access every day
9/ Use Cases
The amount of use cases for using $DAI has exploded in the last 12 months:
Just within the DeFi space, you can:
> Lend it with @compoundfinance @Dharma_HQ
> Trade it with @UniswapProtocol @matchaxyz
> Bet it with @SportX_Project @DegensBet @AugurProject
Use CasesThe amount of use cases for using $DAI has exploded in the last 12 months:
Just within the DeFi space, you can:
> Lend it with @compoundfinance @Dharma_HQ
> Trade it with @UniswapProtocol @matchaxyz
> Bet it with @SportX_Project @DegensBet @AugurProject
10/ Education
For us, the mainstream sports betting audience has little knowledge about crypto, let alone $DAI
It's therefore imperative we teach them about:
> What a decentralized stablecoin is
> How DAI maintains its peg
> How to buy and sell DAI
EducationFor us, the mainstream sports betting audience has little knowledge about crypto, let alone $DAI
It's therefore imperative we teach them about:
> What a decentralized stablecoin is
> How DAI maintains its peg
> How to buy and sell DAI
11/ Anyone interested in firing me questions about why else we chose $DAI, feel free to DM me on Twitter or join our community channels to do so.
Discord: https://discord.com/invite/xXUynCX
Discord: https://discord.com/invite/xXUynCX
