The DAI stablecoin has received a lot of attention in recent months. Following the introduction of the Dai Savings Rate, holders can now earn savings with ease. OKEx is the first major trading platform to integrate this feature for its users.
The Dai Savings Rate (DSR)
When the Maker Protocol introduced Dai, many people expected it to be just another stablecoin. While that was initially the case, the project has received plenty of support and updates ever since. One of the bigger changes is the DSR, a way for users, holders, and even businesses to take full advantage of this currency.
As part of the Dai Savings Rate, several advantages were introduced. The first notable change is how there will be no fees or deposit requirements to take full advantage of this feature. That in itself makes this new solution incredibly appealing to users from all over the world, particularly those who prefer stability over the ongoing volatility.
Secondly, it is accessible to anyone in the world. That also means holders can deposit or withdraw this stablecoin at any given time. For those who are done with DSR, cashing out can occur in a few seconds. It makes for a convenient system not found in any other stablecoin on the market today.
The most important aspect is how Dai holders can earn high returns. These return rates are determined by the Maker Governance model, and currently sit at 4% per annum. It is more attractive than storing money in a savings account, as that will often cost users more money than it nets them.
OKEx Enables Full Support
For cryptocurrency trading platforms, DSR creates a lot of exciting opportunities. Enabling support for the Savings Rate can introduce a high amount of liquidity for any exchange. OKEx, one of Asia’s leading exchange platforms, is among the first to offer this functionality to current and future Dai holders.
To take advantage of this feature, users will need to utilize the Pool option. It allows users to stake currencies, or earn returns through proprietary models such as DSR. Participants will receive the full return rate, as well as a minor bonus on behalf of the OKEx team. All of this can be maintained through the company’s mobile application or website.