{"id":12491,"date":"2024-06-18T09:10:45","date_gmt":"2024-06-18T02:10:45","guid":{"rendered":"https:\/\/bitcoinvn.io\/news\/?p=12491"},"modified":"2026-06-05T09:36:24","modified_gmt":"2026-06-05T02:36:24","slug":"dai-stablecoin-usage-in-vietnam-2024-review","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/insights\/dai-stablecoin-usage-in-vietnam-2024-review\/","title":{"rendered":"DAI stablecoin usage in Vietnam – a summer 2024 review"},"content":{"rendered":"

A decade after their introduction, stablecoins now form the unquestionable backbone of the majority of crypto ecosystems and are increasingly becoming tools of geopolitical significance, while the hype around DAI from the previous decade has somewhat faded in recent years.<\/p>\n

USDT<\/a> and USDC<\/a>, which are battling for world domination with quite different strategies employed by their respective operating entities, Tether Inc. and Centre (a consortium of Coinbase and Circle), have been stealing the show and the headlines.<\/p>\n

And, as the numbers show, USDT and USDC also dominate in terms of volume.<\/p>\n

\"Chart<\/p>\n

That said, DAI is not “dead” and still enjoys a passionate user base, even if it is dwarfed by the two giants in the stablecoin space.<\/p>\n

Here is a look at some trends for DAI in the Vietnamese market.<\/p>\n

\"Chart<\/p>\n

\"Chart<\/p>\n

Quite unsurprisingly, DAI on the Ethereum blockchain still accounts for a solid three-quarters of the total market share.<\/p>\n

Arbitrum is also solidly established in the double digits as a DAI transfer protocol, one of the various ‘Layer 2 \/ rollup solutions’ on the Ethereum network.<\/p>\n

Why Arbitrum<\/a>?<\/p>\n

\"Chart<\/p>\n

While it works similarly to the Ethereum main chain and uses the same address format (so be careful to select the correct network when sending DAI or other multi-chain assets), the transaction fees are much cheaper. On the Ethereum main chain, transactions can cost several dollars, and fees for tokens can spike to $10-20 or more due to their interaction with the smart contract.<\/p>\n

For \u201cpocket money,\u201d it is therefore more advisable to use one of the various Ethereum Layer 2 \/ rollup solutions to move it around.<\/p>\n

Remember that there is a multitude of counterparty risks involved with storing your wealth in DAI on a Layer 2 network:<\/p>\n