DAIUSD
Dai / United States dollar
crypto Composite

Dai a fully collateralized stablecoin native to Maker's decentralized autonomous organization (DAO). Dai's value is stabilized through Maker's smart contract built on Ethereum that uses dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and a variety of user incentive structures. CDPs lock up a users Dai and allows the creation of new Dai, which becomes a debt that can be covered by paying back an equivalent amount of Dai from the Dai generation when the CDP is closed. Open CDPs are always collateralized by an amount of Dai that exceeds the debt accrued through Dai creation.