Although, ACE is designed through the inspiration of how DAI was designed, it wasn't a copy and paste as it has been greatly measured to make it even better and worth having to be used and solve real world loan problems with more benefits.
Both are overcollateralized stablecoins and it will be interesting to have a comparison of them.
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After my research on both, I found out some similarities and also some differences too, but this blog post will focus more on the difference and benefits.
So, let's begin with DAI.
DAI Stablecoin
DAI is a decentralized overcollateralized stablecoin, which was launched in 2017/2018 by MakerDAO and built to maintain its $1 peg while rending lending services.
It wasn't launched at a presale offer and in fact has tried to maintain it's price at $1 with the peg support systems, arbitrage and PSM.
Its native yield is DSR (Dai Savings Rate), and DAI holders earn DSR on their DAI holdings when deposited to a smart contract.
The yield APR/APY ranges from 3%-8% and the lending APR/APY is 2%-8% and the liquidity provision APY ranges from 3%-12%.
Some collateral used are ETH, ETH-derivatives like rETH (Rocket Pool RTH) USDC, tokenized RWAs like Tokenized U.S Treasury bills and some other crypto assets.
ACE Stablecoin
You may not believe in ACE now because it is a new overcollateralized stablecoin and might think it's at high risk because it's in its early phase, yet to go live for global use and demand, but if you look deep and see the structure it has, you will recognize its potential of becoming successful with time.
For ACE, unlike DAI, it was launched at a presale, $0.90 with stages, increasing in value every 72 hours by $0.01 throughout the presale duration which is still on. This offer grants up to 10% discount on its $1 peg, giving the opportunity for instant profit.
There are more benefits compared to DAI, apart from the presale and earning profits from each stage, joining the ACE Quest grants you access to earn free ACE for participating.
The quest is interesting and fun with the daily, weekly, one-time and whale quests and the number of participants keep increasing daily.
Presale holders earn +20% APR boost in addition to the base APR (5%-18%) for providing liquidity to the available ACE pools both on Hive Engine and Base chain. The yield earned is paid out weekly in HBD or USDC.
Hive Engine Pools
Screenshot from LeoStrategy ACE site.
Base Chain Pools
Screenshot from LeoStrategy ACE site.
For LEO Lending, there is a lower fee for each ACE tier when borrowing against your collateral and a higher tier receives a lower borrowing fee and higher lending cap.
LEO is the main collateral in this lending services. When LEO is deposited as collateral, ACE is minted at a safe ratio.
As you rank up in tiers, you claim a particular volume bonus of ACE from 3% to 10%. Isn't it cool?
Also, presale holders are granted early access to features, new collateral types, and other tools and having 500 or more ACE is a password to use the DeFi assistant, APEX, on LeoStrategy Web App at the bottom right corner of the site.
Some people get involved in projects for its instant benefits, like quick profits and not for long-term purpose and that is why they are quick to conclude a project is not successful.
Their level of patience is low and they are probably not built for such. On the other hand, it is understandable that there are emergencies that demand immediate solution and so holding for long-term isn't necessary, profits are made to solve problems, right?
ACE is built to solve real global problems with systems in place to secure how it works and maintain it's purpose of innovation.
I hope my comparison has given you quite a good difference and understanding of both. I will further advice that you DYOR for more knowledge.
Join the ACE Quest and buy ACE to be rewarded in ACE from the 2,500 ACE prize pool.
See you onchain.
Thank you for visiting and taking the time to read my blog post. I would love to hear your thoughts, and I look forward to answering your questions.
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About Winanda
 | Winanda (Ikwuoma Winifred Diala) holds a Bachelor's degree in Petroleum Engineering. She embraced her passion and became a baker, recipe developer, creative writer, and food content creator. Composing songs, listening to music, and seeing movies, are a few of her hobbies. |
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