DAI is a digital currency with an interesting mechanism for keeping the price at one dollar. It is a stablecoin.
Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn’t backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.
For more see: DAI
Builders of Dai, a digital currency that can be used by anyone, anywhere, anytime. Do not send money to accounts impersonating Maker.