Coinbase Earn Now Supports Ethereum-Based Dai Stablecoin
Coinbase has added a new unit for Ethereum-based stablecoin dai on Coinbase Earn, the first stablecoin to be included in its educational program.
According to the post, dai is the first stablecoin covered by Coinbase Earn, which will offer videos and quizzes to help users learn about the token, and receive some Dai for their efforts.
As summarized in the announcement, the Ethereum-based stablecoin Dai is backed by its sister token maker (MKR) and is balanced around retaining a stable value of $1 over time.
As previously reported by Cointelegraph, dai has been worth less than a dollar — lower than its stated goal — for much of 2019, which has sparked at least five voting sessions centered on rebalancing the coin’s value via increasing its stability fee.
Coinbase also comments that it anticipates earning in general to grow into a relevant crypto-based activity, ranking alongside the known areas of buying, staking, voting, and mining.
Coinbase Earn launched on May 18, following its announcement near the end of 2018. It purports to be a solution for potential investors who are interested in crypto, particularly ones less prominent than bitcoin (BTC), but are reluctant to invest without more information:
“...one of the biggest barriers preventing people from exploring a new digital asset was a lack of knowledge about that asset. Many of the people we surveyed expressed a strong desire to begin learning about new and different crypto assets beyond Bitcoin, but didn’t know where to begin.”