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Latin American social network Taringa! to pay content creators in DAI stablecoin

Yogita Khatri
Argentina-based social networking platform Taringa!, claiming to have 27 million registered users, is piloting a reward system to pay content creators in MakerDAO’s DAI stablecoin.The post Latin American social network Taringa! to pay content creators in DAI stablecoin appeared first on The Block.

Argentina-based social networking platform Taringa!, claiming to have 27 million registered users, is piloting a reward system to pay content creators in MakerDAO’s DAI stablecoin.

Taringa! announced the news on Sunday, saying that it has partnered with MakerDAO and e-wallet provider Airtm for the initiative, dubbed “Taringa! Pioneers.”

It will reward users with points for creating content, which can then be monetized by being converted into DAI stablecoin. Airtm will then allow converting DAI into any fiat currency, Taringa! said.

The social networking platform aims to empower hyperinflation-hit countries such as Argentina and Venezuela with the initiative, as using stablecoins could protect them from devaluation, according to the announcement.