Stay up to date on all things crypto and blockchain

Token Daily is a place to discover trending news and products in crypto and blockchain.

Curious how to start engaging with Collateralized Debt Positions?

Curious how to start engaging with CDPs? The Dai Stablecoin System allows for opportunities for both profit-seeking traders and stability-seeking holders to participate in a decentralized ecosystem…

Article posted 11 months ago

with or if you'd like to join the discussion.
Ben Tossell
Here is a clip from a user-story:

So fast-forward to December of this past year; my brother and I were sitting in the kitchen talking about Dai when we realized we could use a CDP to leverage my ETH, generate Dai, and either buy more ETH or (lightbulb…ding!) convert it to USD and use THAT as a loan for the new car. So instead of borrowing from the bank and getting robbed with a high interest rate and fees from the dealership; I could simply leverage a CDP against portion of my ETH holdings, pull out USD and go buy the car for cash.