The Dai Stablecoin

The Dai stablecoin is a decentralized, unbiased, collateral-backed cryptocurrency whose value is soft-pegged to the US Dollar.Dai is held in digital wallets and supported on Ethereum and other popular blockchains. All circulating Dai are generated from Maker Vaults and are backed by a surplus of collateral assets.Users generate Dai by depositing collateral assets into Maker Vaults within the Maker Protocol. Depositing collateral into Maker Vaults enables Dai to be minted and entered into circulation.

Every Dai in circulation is directly backed by excess collateral, meaning that the value of the collateral is higher than the value of the Dai debt, and all Dai transactions are publicly viewable on the Ethereum blockchain.