For those unaware, all orders(once-off or recurring) are paid for in Dai and it is pegged to the US dollar(1 DAI = 1 USD). It has also taken the lead as the stablecoin of choice within DeFi. Here are a few reasons why:
+ Stability – As a stablecoin, Dai aides in the volatility of cryptocurrencies while maintaining the essential features of accessibility, censorship resistance, and distributed governance.
+ Collateralization – Unlike other stablecoins, Dai is backed by popular cryptocurrencies such as Ether ($ETH) rather than by an equivalent amount of fiat dollars.
+ Trustless – Dai aims to be as trustless as possible, meaning there should be limited reliance on the third party to custody collateral
+ Non-custodial – With Dai, all cryptocurrencies backing the supply are stored through audited smart contracts rather than by a third party
+ Accessibility – Dai can be acquired by purchasing it through the Xion Wallet or in the Xion hosted checkout when purchasing products, services or subscriptions.
+ Composability – In the Xion Wallet loyalty account, Dai can be loaned or borrowed to earn passive income, get lifetime discounts and using the main Xion Wallet account to purchase products and receive Dai from consumers.