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DAI - Part 1

What are Stablecoins? Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to a reference asset such as fiat money, exchange-traded commodities, and another cryptocurrency. DAI is a decentralized stablecoin running on the Ethereum blockchain that attempts to maintain a value of 1 USD. In Part 1 of the DAI course, we will learn to build a StableCoin contract including the deposit and withdraw collateral functions.

Language

Solidity

Total Length

1.3h

Part of Learning Track

Build on Ethereum + 1

What You’ll Learn

Introduction to stablecoins and DAI

Definition of contract initialization, variable definitions, and the deposit and withdrawal of collateral.

collateral

deposit

withdraw

Syllabus

Setup Contract

Begin the SimpleStableCoin contract development by importing the necessary standards and defining the constructor.

Define Variables

In this section, define the essential variables and implement the constructor for the SimpleStableCoin contract.

DepositCollateral

Learn to write the 'depositCollateral' function, which is a key component of the contract's functionality.

WithdrawCollateral - Section 1

Start writing the 'withdrawCollateral' function, focusing on the initial structure and logic.