Ethereum Foundation Sells 416.67 ETH for 933,300 DAI, Onchain Lens Reports

According to Onchain Lens, the Ethereum Foundation exchanged 416.67 ETH for 933,300 DAI, a dollar-pegged stablecoin on blockchain networks.

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DAI

Summary

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Terms & Concepts
  • DAI: A decentralized stablecoin designed to track the U.S. dollar and commonly used in on-chain transactions.
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions, fees, and smart contract operations.
  • stablecoin: A type of cryptocurrency that aims to maintain a stable value, often by being pegged to a fiat currency such as the U.S. dollar.