About Dai (DAI)
Dai is a collateral-backed stablecoin pegged to the US Dollar. Dai (DAI) is the first decentralized stablecoin built on top of the Ethereum blockchain. Because the price of Dai is pegged to the US Dollar, it experiences relatively little market volatility. As a result, it is most often used as a method of payment or hedging mechanism. Every Dai is backed by a surplus of collateral that is escrowed into publicly reviewable Ethereum smart contracts.
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