A Partnership Between Ink Protocol, MakerDAO Aims for Stability, Consistency To Stablecoin

Blockhain Tech
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A Partnership Between Ink Protocol, MakerDAO Aims for Stability, Consistency To Stablecoin

Buyers and sellers of cryptocurrencies can now experience an easier and friendlier way of trading thanks to a partnership between Ink Protocol and MakerDAO. The two have joined hands to enable the use of the MakerDAO’s Dai stablecoin in transacting. This will go hand in hand with Ink Protocol’s Ink Pay. Reports have it that Dai is a collateral backed stablecoin. It has a stable value in addition to being consistent with a sustainable price stability.

The stability in stablecoin has attracted massive investment from major investors across the globe giving more growth to the market. Besides, according to CEO and co-founder of MakerDAO, everyone wants a stable and secure way to transact. Rune Christensen says, “Integrating Dai with Ink Pay is a great step toward enabling day-to-day transactions on the blockchain.”

The partnership between Ink Protocol and MakerDAO will offer a trusted and decentralized reputation

Ink Protocol’s Ink Pay will enable the use of various platforms like Facebook or Craiglist in buying and selling. The mobile- and the web-browser-friendly app has expanded. Previously, it was applicable only with Ink Protocol’s native XNK token or the Ethereum-based ether (ETH) token. However, with Dai support, making cryptocurrency payments will become more compelling.

The partnership between Ink Protocol and MakerDAO is a great stride. It will help in the adoption of cryptocurrencies, whose status was at stake because of various online scams.

A cryptocurrency needs to be a real medium of exchange and store of value

The Cryptocurrency industry is becoming more dynamic by the day. Thus, it is of essence that it holds up to an effective medium of exchange, a store of value. These are some of the key things Dai will be seeking to achieve and it is in full support of CEO and Co-Founder of Ink Protocol Gee-Hwan Chuang.

The good thing is that Ink Protocol has a live registration on the Listia platform, Bibox, which holds up to 10M registered users. Plans are underway to introduce additional P2P marketplaces to promote reputation.