About Dai (DAI)
DAI is a decentralized stablecoin designed to maintain a 1:1 peg with the US Dollar through an algorithmic mechanism. Launched by MakerDAO in 2017, DAI provides users with a stable and reliable digital currency within the decentralized finance (DeFi) ecosystem. DAI's unique approach to maintaining stability and decentralization has positioned it as a crucial component of decentralized finance.
- DAI maintains its peg to the US Dollar through a combination of collateralization
- Can generate DAI by locking up collateral assets in MakerDAO's smart contracts.
- Crucial within the DeFi ecosystem, serving as a stable of exchange and store of value.
- Decentralized governance model allows token holders to participate in decision-making
Why Hold DAI?
Holding DAI offers stability in a volatile crypto market, making it a preferred choice for users engaging in decentralized finance activities. Its decentralized and algorithmic design ensures transparency and resilience.