Coinbase adds DAI in its Earn Program
Coinbase, the US largest cryptocurrency exchange, is adding the stablecoin DAI to its Earn Program. After Coinbase announced the upcoming EOS support in the beginning of the month, now DAI will become the second “innovative” addition that the exchange is providing to its program.
The program Earn allows all users to actually receive digital coins in exchange for “educating” themselves by completing different quizzes and watching videos about a variety of protocols.
Coinbase Earn now has the following coins in its portfolio: ZRX, XLM, ZEC, EOS and BAT.
As reported by the exchange:
DAI is backed by collateral on the Maker (MKR)platform. The relevant whitepapers explain that MKR and DAI tokens form a paired set of assets in which MKR provides governance, and DAI is a decentralized, collateral-backed stablecoin.
Through the Earn program, Coinbase is planning to “pay” its customers more than $100 million in digital coins. For each lesson they take, users will be able to choose between $2 dollars or $6 in DAI.
“Coinbase strives to be a trusted source where customers can educate themselves about new developments in crypto, and we’re excited to offer people a new opportunity to learn about and earn DAI,” the company wrote in a Medium post Monday.
Coinbase says it plans to pay out more than $100 million worth of crypto through its Earn initiative. Coinbase users can receive up to $6 in DAI, or $2 for each lesson.
After losing its dollar peg earlier this year, DAI has righted the ship in recent weeks, largely maintaining a steady dollar valuation.