Ethereum Q&A: Dai Savings Accounts
Channel: aantonop
Date: 2020-07-23

00:00 What do you think of keeping funds in a Dai savings account?
01:52 What are the risks of using Dai?

Is it a good idea to keep some funds in a Dai savings account? What are the risks? What are the rewards?

The Maker Dao platform allows you to both borrow and earn on a savings account via the Dai cryptocurrency.  Dai is created by a decentralized system and designed to hold it's value relative to the US dollar. While the system has been functioning well, it's very new and very experimental, and Andreas recommends not adding more money to the system than you could watch burn on the table in front of you without crying! 

This question is from the March monthly patron session, which took place on March 21st, 2020. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a Community Builder on Patreon: https://www.patreon.com/aantonop

Related Videos:
Bitcoin Q&A: DeFi Explained in Laymans Terms - https://youtu.be/RxrqNmv2tR0
Ethereum Q&A: Stablecoins and DAI - https://youtu.be/GnoQOlVTMeg 

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