What is DA Coin (DAS Coin)

What is DA Coin? DA is a decentralized lending protocol based on blockchain, mainly used for decentralized finance (DeFi) markets.

Currently, there are a total of 100 million DAI in circulation, valued at over 600 million US dollars. The total supply of DAI is 3.16 billion, with a circulating quantity of over 712,000. When the collateral rate exceeds 80%, it will be allocated to community incentives, with 20% distributed to the foundation, advisory team, and other stakeholders. According to information released by the project, as of August 30, 2020, 12 exchanges have launched trading platforms, with a cumulative trading volume of nearly 2 billion Chinese yuan.

DAS Coin

Editor’s note: This article is from BlockBeats (ID:BlockBeats), authorized by Odaily Star Daily for republishing.

With the increase in Bitcoin network transaction fees and the rise of decentralized applications, the price of DAS Coin, a blockchain-based data storage infrastructure and smart contract platform, has also experienced a significant increase. However, on the other hand, as gas fees continue to rise, mining activities are also growing rapidly, and the “pay-to-earn” model can provide users with more income choices.

Currently, millions of users are already using DAS tokens as a payment method to buy or sell cryptocurrencies, with nearly 40% of people using DAS for daily expenses and credit card payments. According to DAppTotal data statistics, as of December 17, at 24:00, the value is around 200 million US dollars.

According to the latest data, the average transaction fee under the “pay-to-earn” model is about $0.015, compared to a traditional PoW consensus mechanism where the GAS fee is only $0.048 per transaction. The low cost can reach $0.009 per transaction, greatly reducing the participation threshold for users.

In response to this, Wang Xiaochuan, a member of the “Polka China Community,” believes that “because the performance of the public chain is too poor, the nodes cannot simultaneously maintain multiple parallel chains and obtain effective information.” Although the “number of active wallets,” “daily new addresses,” and “daily total registered users” are a huge challenge for ordinary investors, they can still sustainably develop in practice. “In order to improve security and efficiency, we have adopted a simple model, which is to invite friends to join our group so that they can directly participate and achieve a truly free circulation economy.” In addition, according to official information, because “hashrate leasing + liquidity incentives = generating 100,000 Das coins reward per minute,” when the account balance exceeds 100 million DAI, these deposits will be automatically collected into a wallet controlled by one account or a group of other private key managers.

It is reported that this project aims to build a new type of economic system that allows everyone to access their digital currency on the internet.