A month ago, the Argent cryptocurrency wallet presented an integration to create loan agreements with DAI through Maker. This was announced by the Argent team, which is currently working on this project. This announcement meant great news in the community, especially for DAI users.

In that text, they explain that opening a Maker contract will take “only a few touches” from the mobile phone. At the moment, they add, it is only available for iOS, although the plan is to launch it on Android later. In the note they do not give an estimated date for this release.

Maker’s loan agreements offer the user access to a certain amount of DAI, stablecoin anchored to the value of the US dollar, using funds in ethers as a guarantee.

In the words of the Argent team, these contracts “allow you to maintain your exposure to ETH while obtaining a stable asset that is more suitable for spending.” That is, you will not directly change your ethers, but you will be able to spend the dollar amount at the moment and, in case of an increase in the price of ETH that will not affect the amount that you will have to pay back for said loan.

Likewise, in the post, the company explains that for the closing of the loans, within the Argentine portfolio itself, ETH may be exchanged for DAI. Once the debt is settled, the guarantee in ethers initially deposited will be available again at your ETH address.

Another feature explained in the publication is the risk assessment to define a loan. According to the developers, it will be “very simple to assess whether your collateral [the level of collateral in ethers for the amount required in DAI] on loan is too low.”

This launch was announced as the first of Argent’s foray into the world of decentralized financial applications or DeFi. They add up to a growing market with loan platforms, financial derivatives and security tokens.

DAI in record numbers

According to data provided by MakerDAO and Beneath.Network, DAI has reached record numbers. During May of this year, users of this anchored currency transferred a total of USD 1.4 billion in DAI.

By then, the loans represented 13% of the use of this cryptoactive asset anchored to the dollar. In Maker data, that percentage corresponds to loans on platforms such as NUO, Dharma, dYdX and Compound.

Previously, a report by Diar magazine established that the approval of the latest increase in the DAI stability commission sought to save time for this anchored currency to gain more use cases, since at that time the value of the cryptoactive was below the dollar, which is supposed to maintain a parity of 1: 1.

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