Dai (DAI)
- Official Website: makerdao.com
- Definition: Dai is a decentralized stablecoin pegged to the US dollar, created by MakerDAO.
- Category: Stablecoin, Token.
- What It Is: A cryptocurrency backed by collateral and maintained through smart contracts.
- Function: Used for trading, lending, and as a stable store of value.
- Analogy: Think of Dai as a digital savings account. It’s stable, secure, and always worth $1.
- Pros: Decentralized, transparent, widely used in DeFi.
- Cons: Complexity, reliance on collateral.
- Controversies: Regulatory scrutiny, competition from other stablecoins.
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This page was last updated on January 28, 2025.
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