ETH to DAI

What is DAI and why you would probably need it on Gitcoin?

  • Simply put and without any technical details, DAI is a Decentralized stablecoin, a cryptocurrency built on the Ethereum Blockchain and which has the quality of being "stable" , meaning that 1 Dai will always be equal to 1 US dollar (more or less).
  • Most of the grants on Gitcoin accept contributions in Dai, and you may find yourself in need of "converting" your ETH into DAI in order to contribute to your favorite grant.

In the following section, we will be using Oasis, a platform for decentralized finance where you can trade multiple cryptocurrencies that are built on the Ethereum Blockchain.

Note: This guide assumes the user has already installed Metamask and successfully connected it to Gitcoin.

Step 1:

Visit the trading page for Oasis, then chose "instant" at the top of the page:

![screenshot1](https://i.imgur.com/tCE6huG.png "Oasis Trading Page")

Step 2:

Connect your Metamask wallet:

![screenshot2](https://i.imgur.com/mPghAOV.png "Oasis Trading Page")

You will be prompted to enter your password:

![screenshot3](https://i.imgur.com/8x9ELcV.png "Oasis Trading Page")

Connect your wallet to the website:

![screenshot4](https://i.imgur.com/mU9P24s.png "Oasis Trading Page")

Step 3:

Enter the desired amount of DAI you want to buy then click "start transaction":

![screenshot5](https://i.imgur.com/JWlGwM5.png "Oasis Trading Page")

A Metamask window will appear that asks you to confirm the transaction (as any other transaction on the Ethereum Blockchain, you'll have to pay a small gas fee)

![screenshot6](https://i.imgur.com/18Oe5FR.png "Oasis Trading Page")

Creating an order will take some time (usually not more than a minute, also it will depend on the gas fee you paid):

![screenshot7](https://i.imgur.com/LsmRGUG.png "Oasis Trading Page")

![screenshot8](https://i.imgur.com/KHxS7xu.png "Oasis Trading Page")

Congratulations! You've bought your first DAI.