Fantom offers scalable and instant transaction capabilities, while Dai provides stablecoin reliability, pegged to the U.S. dollar. Together, they represent a blend of performance and stability, making them a compelling investment pair in the evolving decentralized finance landscape. Is this a great pair to enrich the portfolio? Let’s get to know how and where to securely exchange Fantom to Dai.
What makes Fantom an interesting project?
Fantom was created with the vision of addressing some of the key issues plaguing existing blockchain platforms, primarily scalability and transaction confirmation times. Developed as a high-performance, scalable, and secure smart-contract platform, Fantom's primary aim is to offer instantaneous transaction finality and to sustain an immense number of transactions per second.
The foundation of Fantom's functionality is the Lachesis Protocol, an aBFT (asynchronous Byzantine Fault Tolerant) consensus mechanism. Unlike traditional blockchains, which use blocks in a linear sequence, Fantom employs a Directed Acyclic Graph (DAG) approach. This design choice allows for multiple transactions to be processed in parallel, leading to rapid transaction times and higher scalability.
What makes Dai an interesting project?
Dai is a stablecoin cryptocurrency that aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. Created and overseen by the MakerDAO organization, Dai stands out from other stablecoins because it's decentralized and its value isn't backed by bank-held reserves; instead, it's backed by collateral assets placed in Ethereum smart contracts.
The primary objective behind Dai's creation was to produce a reliable and stable means of exchange that can be used within the cryptocurrency ecosystem, avoiding the volatility often associated with other digital assets like Bitcoin or Ethereum. By pegging its value to the U.S. dollar, Dai provides a stable store of value for decentralized applications, decentralized finance (DeFi) platforms, and traders.
Dai is generated through a system known as the MakerDAO Collateralized Debt Position (CDP). Users lock up collateral, like ETH, in exchange for Dai. This collateral ensures the stability of Dai's value. If the value of the collateral falls below a certain threshold, it's liquidated to ensure Dai remains stable.
Current situation with value and price dynamics
Today, Fantom is priced at $0.2055, witnessing a 24-hour trading volume of $53.47 million. Over the past 24 hours, FTM has decreased by 2.75%. It's now 6.05% below its weekly peak of $0.2188 and 4.25% above its weekly low of $0.1972. Currently, 2.8 billion FTM are in circulation, out of a maximum supply of 3.18 billion FTM.
Today's active Dai price stands at $0.998441 USD, reflecting a trading activity of $80,296,032 USD in the past day. Our DAI to USD valuation is refreshed continuously. In the preceding 24 hours, Dai has seen a decrease of 0.13%. The currency boasts a dynamic market capitalization of $5,339,549,444 USD.
Where to make a swap?
It’s not a secret that there are many exchanges out there with a solid number of options to swap. However, nowadays, it’s safety of data that matters. It is recommended to pick the one where traders are not asked to get registered. At Godex, traders can use the platform, benefit from fixed rates and low fees, and not leave their sensitive data at all.
Besides, it provides up to 300 cryptos to exchange and, along with that, meaningful information about price dynamics and current value. For example, you might be considering Dogecoin Mars. The system also provides the Dogelon Mars prediction and a built-in calculator for appropriate calculations.