MakerDAO (DAI) is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar stablecoin. Users generate Dai by depositing collateral assets into Maker Vaults within the Maker Protocol.
Essential details:
- Dai was launched in 2017 on the Ethereum blockchains.
- Dai is backed by a surplus of collateral that has been individually escrowed into audited and publicly viewable Ethereum smart contracts.