Dai Stablecoin (DAI)

Dai (DAI) is a stablecoin pegged to the value of one U.S. Dollar, built on Ethereum and developed by the MakerDao team. DAI can be created by depositing Ether into a smart contract, and therefore is always fully collateralised.

At present, the requirements for a stablecoin allowing low-risk arbitrage between different cryptocurrency exchanges and price-hedging by traders is primarily met by USDTether - a centrally issued alternative collateralised by U.S. Dollars, held in a bank account. DAI instead removes this centralised risk point and is slowly becoming popular in the Ethereum community, particularly on decentralised exchanges, as a primary trading pair.

Resources

rhino.fi Ticker: DAI
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