xDai tokens are used to pay for gas and transactions on the Gnosis chain. They are a stable token (worth ~ 1 USD) created from locked Dai
When users want to exchange xDai for Dai, the process is executed in reverse. xDai is burned (destroyed) in the xDai chain smart contract, and a verified signal is sent to unlock the exact same amount of Dai on the Ethereum mainnet. The unlocked Dai is then returned to the user’s address on the Ethereum mainnet.
Question : My question may be stupid but I would like to ask several questions:
- why did you choose DAI?
- can it be changed?
- if so, I would like us to study the FRAX option. I know he will offer strong incentives if possible and wanted by the Gnosis community