Dai is a stable coin implemented as an ERC20 token on the Ethereum blockchain. Designed to maintain 1:1 parity with the US Dollar its value is backed by collateral (ether in Dai 1.0) which is locked up in a smart contract, the Maker collateral vault.
Compound v2 introduced cTokens, an interest rate protocol intended to power the financial markets & applications of the future. Simply by holding cTokens, you’ll earn interest.
We took this one step further., rDAI tokenizes the ownership of interest that is accrued by underlying interest earned from the staked cDAI. These rDAI tokens allow you direct the flow of interest earned from your cDAI to other parties while effectively owning full control of the principal DAI that is staked.
To learn more:
- Read the PRIMER
- Follow us on twitter @rDAI_dao
- Visit the homepage: https://redeem.money/
- Visit the app (Rinkeby Testnet Only): https://app.dev.redeem.money/
Contact us if you would like to integrate this to your DeFi product!