Dai (DAI)

About Dai

Dai is a stablecoin issued by the MakerDAO protocol. It is designed to maintain a value pegged to the US dollar. The token is collateralized by multiple assets, as part of the Multi-collateral DAI (MCD) system. It operates within the Ethereum ecosystem and is used in decentralized finance (DeFi) applications.

Token standard

erc-20

• Dai is a decentralized stablecoin that is not backed by a central authority.
• It is collateralized by a variety of cryptocurrencies, not just a single asset.
• The MakerDAO protocol uses smart contracts to manage the stability of Dai.
• Dai is widely used in DeFi applications for lending, borrowing, and trading.

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