DescriptionThe Dai stablecoin is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Dai is held in cryptocurrency wallets or within platforms, and is supported on Ethereum and other popular blockchains.

Category:crypto-backed

Minting and RedemptionUsers mint Dai by depositing accepted collateral assets into Maker Vaults within the Maker Protocol. When the loan is repaid to retrieve the collateral, the paid back Dai is burned.