AO Blockchain Sees Over 90 Million DAI Deposited for Minting Activity

COINOTAG reports that as of October 5, the scalable blockchain network known as AO has surpassed a significant milestone with over 90 million DAI deposited. This move follows the network’s recent announcement regarding the integration of DAI for minting purposes within the AO ecosystem. The official deposit channel for AO now facilitates cross-chain transactions, allowing participants to engage in its equitable distribution model. Previously, on September 11, AO disclosed that they had minted over 1.8 million AO tokens. These tokens, while currently non-transferable, are poised to become tradeable assets starting February 2025. The strategic alignment with DAI not only enhances liquidity but also solidifies AO’s commitment to fostering a robust financial framework. Stakeholders in the blockchain sector are closely monitoring these developments, highlighting AO’s potential to reshape digital asset exchanges with its innovative approach to token distribution.