There are two important reasons why we chose to launch DAI on this day. Firstly, we believe decentralized finance is a highly exciting area, particularly in the Ethereum ecosystem. What sets DAI apart from many other stablecoins is that there are no companies that back DAI by USD. The project is decentralized, and it is the value of Ethereum, which is locked into smart contracts, that backs up the value of DAI.
Graph: The value of DAI is priced in NOK throughout the year
The other important reason we are launching DAI is that we have received feedback from customers wishing to trade USD-backed stablecoins. This year, the NOK exchange rate has fluctuated widely, as shown by the graph above. The volume also shows a strong and increasing interest in DAI during recent months. If you want to protect yourself against falling NOK exchange rates, DAI could be a solution.