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How does MakerDAO's stablecoin USDC work?

avatarRagi krishna RNov 28, 2021 · 3 years ago1 answers

Can you explain how MakerDAO's stablecoin USDC works in detail?

How does MakerDAO's stablecoin USDC work?
MakerDAO
Stablecoin
USDC

1 answers

  • avatarNov 28, 2021 · 3 years ago
    USDC is a stablecoin created by Circle and Coinbase, two well-known companies in the cryptocurrency industry. It is regulated and audited on a monthly basis to ensure transparency and trust. USDC operates on the Ethereum blockchain, which provides security and immutability. The value of USDC is pegged to the US dollar, making it a reliable store of value and medium of exchange in the cryptocurrency market. Users can easily convert their USDC to other cryptocurrencies or fiat currencies on various exchanges.

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