Ethereum Alarm Clock dApp Schedules DAI Token Natively

Test Out Delayed Stable Coin Transfers On The Kovan TestNet

ChronoLogic broke new ground when it enabled decentralized scheduling of ERC-20 tokens on the Kovan testnet through the Ethereum Alarm Clock dApp. Now ChronoLogic has chosen DAI for native scheduling for the dAPP (decentralized application), because it shines among other tokens by proving it’s a reliable stable-coin pegged to the USD.

Because DAI (by MakerDAO) is a stable coin, it allows for a broader range of use-cases for scheduling.

Most bills that people have to pay are in fiat, such as the USD, and being able to schedule fixed amount dollar transfers each month is extremely practical.

One benefit of scheduling DAI transfers could be paying for a monthly subscription for a service which expects payment in dollars, since DAI’s value is at a 1:1 ratio of the USD.

When asked at EDCON about how DAI and the Ethereum Alarm Clock could work together, Andy Milenius, CTO of MakerDAO said:

“This is a perfect example of a time that you need DAI because by definition the Ethereum Alarm Clock is thinking about something that’s happening in the future…so if I put some ETH into a contract right now expecting something to happen in the future, I have no idea what I’m actually going to pay for that…it’s very difficult to budget. It’s very difficult to do anything at scale that way, so if I wanted to use the Ethereum Alarm Clock in my business, to build on top of it, I obviously need to use DAI because I simply can’t know much money I’m going to be spending when the transaction actually gets triggered”.

You can watch the whole interview below:

To schedule a testnet DAI token transfer, go to app.chronologic.network and select DAI from the dropdown menu after selecting ERC-20 Token transfer.

You can see this option in the following tutorial:

You can test out scheduling DAI now on the Kovan testnet at https://App.ChronoLogic.Network and soon on the mainnet. To learn the latest Ethereum Alarm Clock updates, join our communities on Telegram and Twitter!