THE FEATURE MakerDAO and More: The Quest for a Stable Stablecoin Continues Usually, no one bats an eye when a cryptocurrency's price drops 30 percent over the course of a week. This is the Wild West, after all. But when it happened to DAI this month, heads turned, primarily because the token was designed specifically to hold its peg with the U.S. dollar.
One of a growing number of crypto tokens referred to as "stablecoins," these cryptocurrencies are engineered to adjust their supply as the market shifts, issuing when prices rise and retracting when they drop, in an effort to keep their prices steady.
Called the "holy grail" of cryptocurrency, stablecoins have been heralded as a way to strengthen the commercial case for blockchains, since many businesses shy away from the volatility associated with the sector.
And in this pursuit of stability, interest in refining the stablecoin technology seems to be on the rise moving into 2018.
Yet, according to critics, DAI's brief spell of trading for around 72 cents only foreshadows impending doom that the market has seen several times already with stablecoins. | 
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