Introduction to the Dai Stablecoin

As usual, this event is open to the public. Please RSVP here: https://goo.gl/forms/njE9B8uIiFwGgXwf2 Also see the Facebook event for more details: https://www.facebook.com/events/2370696959622781/

A ‘stablecoin’ is a cryptocurrency with low volatility relative to fiat currency. One of the major criticisms of cryptocurrencies like Bitcoin is that rampant volatility inhibits them from realizing their primary use case--transferring value. In order for digital currencies to effectively transfer value it is expected that the price of currency itself is stable and not subject to price volatility. Maker creates a stablecoin called Dai through collateral deposits within a permissionless credit system. MakerDAO is open source and one of the oldest projects built on Ethereum.

Andy Milenius is the CTO of MakerDAO, a unique dapp that creates a cryptocurrency called Dai and maintains its price stability over short and medium term time increments. He is especially interested in the mechanism design of decentralized governance and bootstrapping online communities.

Before joining this team, he worked as a Software Engineer in the Developer & Productivity Tools organization of Amazon Web Services. He holds a degree in Computer Science from the University of Michigan. His hometown is Detroit, USA and he currently lives out of a backpack.