What is Dai (DAI)?

Discover the key facts about Dai (DAI).

About DAI

DAI is an Ethereum-based stablecoin that is pegged to the US Dollar. It is used on the MakerDAO network, which employs smart contracts to enable users to borrow DAI against their deposits of other cryptocurrencies.

DAI is created by taking out a loan on MakerDAO. Once created, DAI can be used like ETH tokens in transactions. Over its lifespan, DAI has maintained a 1:1 ratio with the US Dollar with only minor and brief fluctuations. DAI can be traded on many centralized exchange platforms.

Crypto for Good: Oxfam Pilots Disaster Relief Using Stablecoin DAI

Oxfam International, a U.K.-based nonprofit, spent one month testings MakerDAO’s stablecoin DAI as a vehicle for helping disaster victims.

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