Explore and compare DAI with the otherpopular digital currencies we offer below.
Dai is a decentralized cryptocurrency stabilized against the value of the US dollar. Created via the Makers (MKR) Dai Stablecoin System, it uses margin trading to respond to changing market conditions and preserve its value against the major world currencies. Unlike other popular stablecoins whose value is backed directly by USD, it’s backed by crypto collaterals that can be viewed publicly on the Ethereum blockchain.
In short, Dai is a decentralized stablecoin created by MakerDAO (MKR). One Dai equals one US dollar (1:1 ratio) and will always remain so until the token is taken out of the circulation.
Dai maintains stable value without centralized trust in a clever and interesting way. It shifts following market changes and thus keeps a steady price against other cryptocurrencies. The process is facilitated by the Maker platform along with the MKR token, CDP smart contracts, and several other stabilization mechanisms. There is no need for a centralized authority that oversees fiat-collateralized stablecoins like Tether (USDT), nor any traditional bank backs it. The project lives entirely on the Ethereum blockchain and its smart contracts, and that makes Dai a truly trustless and decentralized stablecoin which cannot be shut down nor censored.
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