Dai (DAI) là gì?

Dai (DAI) la mot loai tien ma hoa duoc goi la stablecoin — mot dong tien ky thuat so duoc thiet ke de luon co gia tri khoang mot do la My. Khac voi phan lon cac loai tien ma hoa co gia ca len xuong lien tuc trong ngay, Dai duoc thiet ke de duy tri on dinh o muc xap xi $1. Dieu khac biet cua Dai la no duoc van hanh boi cac chuong trinh may tinh (goi la hop dong thong minh) tren blockchain Ethereum thay vi mot cong ty duy nhat giu tien mat trong ngan hang.

Dai (DAI) la gi theo cach hieu don gian?

Hay tuong tuong ban dang choi mot tro choi dien tu, trong do cac dong vang thay doi gia tri moi phut — co khi mot dong mua duoc kiem, co khi khong mua noi mot qua tao. Dieu do se rat kho chiu va cang thang. Stablecoin la mot dong tien luon mua duoc gia tri tuong duong, vi gia tri cua no duoc "chot" (co dinh) vao mot thu gi do on dinh. Dai duoc chot vao do la My, nen 1 DAI co gia tri bang 1 do la My.

Phan lon tien thong thuong nhu do la hay euro deu do chinh phu va ngan hang kiem soat. Nhieu stablecoin do la khac (nhu USDC hay USDT) do cac cong ty tu nhan quan ly — cac cong ty nay cam ket giu do la that trong ngan hang tuong ung voi moi dong coin. Dai khac biet: no la phi tap trung, nghia la khong co mot cong ty nao nam quyen kiem soat. Thay vao do, no duoc tao ra va quan ly boi ma nguon mo ma bat ky ai cung co the doc. Day la ly do nguoi ta goi Dai la stablecoin phi tap trung.

Dai hoat dong nhu the nao?

Day la phan khe leo. Dai khong duoc bao dam bang do la gui trong ngan hang. Thay vao do, no duoc bao dam bang cac loai tien ma hoa khac ma moi nguoi khoa lai lam tai san dam bao. Tai san dam bao nay goi la collateral (thu gi do co gia tri ban dat ra de dam bao cho mot cam ket — giong nhu tien dat coc ban tra truoc khi thue nha).

Day la quy trinh co ban theo tung buoc:

• Mot nguoi gui tien ma hoa (vi du mot phan Ethereum) vao mot hop dong thong minh dac biet goi la Vault.
• Hop dong thong minh cho phep ho vay Dai moi dua tren khoan dat coc do — nhung luon la it hon gia tri cua khoan dat coc. Khoan dem du phong them nay goi la the chap vuot muc.
• Neu nguoi vay muon lay lai tien ma hoa, ho hoan tra so Dai da vay (cong them phi nho), va hop dong thong minh tra lai tien dat coc va huy so Dai do.

The chap vuot muc chinh la thu giu cho Dai an toan. Hay nghi den viec vay $70 tu ban nhung de lai chiec xe dap tri gia $100 cua ban lam the chap. Ngay ca khi xe dap mat mot chut gia tri, ban cua ban van duoc bao ve. Neu gia tri cua tien ma hoa bi khoa giam qua nhieu, he thong tu dong ban mot phan trong so do (qua trinh goi la thanh ly) de dam bao moi Dai van duoc bao dam boi gia tri du. Tat ca dieu nay xay ra tu dong bang ma lenh, khong co nguoi nao can tu quyet dinh tung truong hop.

Ai da tao ra Dai va khi nao?

Dai duoc tao ra boi MakerDAO, mot du an do mot doanh nhan Dan Mach ten Rune Christensen khoi xung. Phien ban dau tien cua Dai ra mat vao thang 12 nam 2017. Phien ban ban dau do chi co the duoc bao dam boi Ethereum va duoc biet den la "Dai don tai san the chap" (doi khi goi la Sai).

Vao thang 11 nam 2019, du an nang cap len Dai da tai san the chap, cho phep su dung nhieu loai tien ma hoa khac nhau lam tai san dam bao, khong chi rieng Ethereum. MakerDAO la mot DAO (To chuc tu tri phi tap trung) — mot to chuc duoc dieu hanh boi cong dong cua no rather than mot sep. Nhung nguoi nam giu mot token rieng biet goi la MKR co the bo phieu ve cac quyet dinh quan trong, nhu tai san nao duoc phep dung lam the chap va phi thi truong la bao nhieu. Vi vay Dai duoc dinh huong boi cong dong nhung nguoi nam giu token, khong phai boi mot CEO.

Dai duoc dung de lam gi?

Vi Dai luon gan $1 va ton tai tren blockchain, moi nguoi su dung no theo nhieu cach thuc te:

• Noi an toan de giu tien: Neu ai do lo ngai gia cac loai tien ma hoa khac co the giam, ho co the chuyen sang Dai de "tru an" trong thu gi do on dinh ma khong can roi khoi the gioi tien ma hoa hay doi lai thanh tien ngan hang.
• Gui tien: Dai co the gui cho bat ky ai, o bat cu dau, vao bat ky gio nao, thuong chi trong vai phut, ma khong can tai khoan ngan hang.
• DeFi (Tai chinh phi tap trung): Day la the gioi cac ung dung tai chinh xay dung tren blockchain ma khong co ngan hang trung gian. Moi nguoi cho vay Dai de kiem lai suat, vay muon bang Dai, hoac giao dich voi Dai.
• Thanh toan hang ngay va tiet kiem: Mot so ung dung va nha ban le chap nhan Dai vi gia tri on dinh cua no giup gia ca co the du doan truoc.

Noi tom lai, Dai mang den cho moi nguoi su on dinh cua dong do la cung voi tinh mo va tam voi rong lon cua tien ma hoa.

Dai khac cac stablecoin khac o diem gi?

Su khac biet lon nhat la ban phai tin tuong vao ai. Voi cac stablecoin do cong ty quan ly, ban tin tuong rang cong ty thuc su giu du do la trong ngan hang va se cho phep ban doi coin tro lai. Voi Dai, ban tin tuong vao ma nguon mo, cong khai va tai san the chap bang tien ma hoa ban co the kiem tra truc tiep tren blockchain.

• Phi tap trung: Khong co cong ty nao co the dong bang toan bo he thong hoac tat no tuy y.
• Minh bach: Bat ky ai cung co the kiem tra theo thoi gian thuc xem bao nhieu tai san the chap dang bao dam so Dai dang luu hanh.
• Duoc bao dam bang tien ma hoa: No duoc ho tro boi tien ma hoa bi khoa trong cac hop dong thong minh, khong phai tien mat trong ket sat. (Theo thoi gian, cong dong MakerDAO cung da bo phieu bao dam mot phan Dai bang cac tai san khac, bao gom ca mot so tai san tu the gioi thuc, nhung mo hinh the chap tien ma hoa vuot muc la nen tang cua no.)

Day la ly do nhieu nguoi coi Dai la mot trong nhung cach "trung thanh nhat voi tinh than tien ma hoa" de nam giu gia tri on dinh tuong duong do la.

Lam the nao de mua va luu tru Dai (DAI)?

Co hai cach chinh de co Dai:

• Mua: Tren san giao dich tien ma hoa (mot trang web hoac ung dung noi ban co the doi tien lay tien ma hoa), giong nhu ban mua bat ky dong coin nao khac.
• Tu tao ra: Bang cach khoa tai san the chap la tien ma hoa vao MakerDAO Vault va vay Dai dua tren do — day la phuong phap nang cao hon va chu yeu duoc nhung nguoi co kinh nghiem su dung.

De luu tru Dai, ban giu no trong vi tien ma hoa (mot ung dung hoac thiet bi giu coin va cac khoa bi mat kiem soat chung). Vi Dai ton tai tren blockchain Ethereum (va mot so mang tuong thich khac), ban can mot vi ho tro cac mang do. Quy tac vang: ai kiem soat khoa bi mat la kiem soat coin, vi vay hay giu khoa cua ban bi mat va khong bao gio chia se voi bat ky ai.

Dai co an toan khong? Nhung rui ro can biet

Dai da hoat dong nhieu nam va la mot trong nhung stablecoin phi tap trung dang tin cay nhat, nhung khong co loai tien ma hoa nao la khong co rui ro. Sau day la nhung rui ro thuc su can hieu:

• Rui ro mat neo: Dai huong den $1 nhung co the bi lech nhe len hoac xuong trong nhung thoi diem thi truong cang thang.
• Rui ro tai san the chap: Su an toan cua Dai phu thuoc vao gia tri cua tien ma hoa bao dam no. Mot dot sup do dot ngot va nghiem trong co the gay ap luc cho he thong.
• Rui ro hop dong thong minh: Vi Dai chay tren ma lenh, ve ly thuyet mot loi co the bi khai thac, tuy nhien cac hop dong cua MakerDAO duoc kiem tra ky luong.
• Rui ro quan tri: Cac quyet dinh duoc dua ra boi nhung nguoi bo phieu MKR, vi vay he thong phu thuoc vao cong dong cua minh dua ra nhung lua chon dung dan.

Dai hien tai xep hang khoang #34 theo gia tri thi truong trong tat ca cac loai tien ma hoa, cho thay no duoc su dung rong rai va duoc biet den nhieu. Nhu moi khi, hay tim hieu cach hoat dong cua thu gi do truoc khi dau tu tien, va khong bao gio dau tu nhieu hon so tien ban co the chap nhan mat. Bai viet nay chi co muc dich giao duc va khong phai la tu van tai chinh — hay luon tu nghien cuu.

Cac cau hoi thuong gap ve Dai (DAI)

Dai co giong do la My khong?

Khong. Dai la mot loai tien ma hoa duoc thiet ke de duy tri gan voi gia tri cua mot do la My, nhung no khong duoc phat hanh boi bat ky chinh phu nao va khong phai tien mat thuc su. Gia tri cua no duoc giu gan $1 boi tai san the chap tien ma hoa va cac hop dong thong minh, khong phai boi mot ngan hang.

Tai sao Dai duy tri o muc khoang $1?

Dai duy tri gan $1 vi moi Dai duoc bao dam boi tai san the chap tien ma hoa tri gia hon $1 duoc khoa trong cac hop dong thong minh. Cac he thong tu dong, phi va cac quy tac do cong dong thiet lap phoi hop voi nhau de giu gia tri can bang quanh muc neo do la.

Ai kiem soat Dai?

Khong co ca nhan hay cong ty nao kiem soat Dai. No duoc quan tri boi MakerDAO, mot cong dong nhung nguoi nam giu token MKR va bo phieu ve cac quy tac. Cong viec hang ngay duoc thuc hien tu dong boi cac hop dong thong minh mo tren blockchain.

Toi co the mat tien voi Dai khong?

Co, dieu do la co the. Trong khi Dai duoc thiet ke de on dinh, no co the bi lech nhe so voi muc $1 trong thoi gian ngan, va cac rui ro nhu tai san the chap sup do hoac loi phan mem ton tai. Hay xem no la mot cong cu can hieu ky, khong phai mot ket an toan duoc bao dam.