Dai

About Dai

DAI is a decentralized stablecoin built on the Ethereum blockchain and governed by MakerDAO. Unlike centralized stablecoins backed by a single institution, DAI maintains its soft peg to the US dollar through an overcollateralized system of crypto assets and smart contracts. Users generate DAI by locking collateral into Maker Vaults, with the protocol automatically managing stability through liquidations and interest rates. As a multi-collateral stablecoin, DAI plays a central role across decentralized finance, widely used for lending, trading, and payments within the broader DeFi ecosystem.