The official Coinbase account has announced the introduction of a new cryptocurrency in its Coinbase Earn programme. The currency in question is DAI, a special stablecoin that was introduced on Coinbase about two weeks ago.
The Coinbase Earn programme now includes six coins. Last week, in fact, the EOS cryptocurrency was also added, allowing users to earn up to $10 worth of EOS tokens.
Coinbase Earn is an educational programme organised by the American giant in collaboration with its cryptocurrency partners, which allows obtaining certain tokens free of charge simply by following educational videos and responding to the various quizzes proposed.
At the moment, there are six cryptocurrencies that have joined the programme. These are 0X (ZRX), Basic Attention Token (BAT), Zcash (ZEC), Stellar Lumens (XLM), EOS and now also the stablecoin DAI.
Coinbase Earn: the stablecoin DAI is here
The DAI stablecoin is a particular cryptocurrency in that its value is pegged to the price of one US dollar.
Unlike other stablecoins, however, DAI is decentralised, as there is no central body managing the reserve funds. Not only, compared to USD Coin, Tether and PAX, the currency is not directly backed by fiat currency, but by Ethereum and tokens linked to the proprietary mechanism of the currency.
DAI is therefore defined as a trustless stablecoin, based on a sophisticated mechanism of fees and incentives combined with a series of smart contracts that allows it to maintain its value anchored to the figure of one dollar, despite the reserve funds are constituted by Ethereum.
You can learn more about the complicated operation of DAI in our dedicated article.
By taking advantage of Coinbase Earn, users will be able to understand how DAI works, what its advantages are over other solutions and, finally, earn some tokens on the platform.
To participate in the Coinbase Earn programme and earn DAI tokens it is required to join through the official page, where the complete instructions and all the steps to be taken are provided. On the same page, there are also all the other cryptocurrencies participating in the initiative.