Dai

Dai is an Ethereum-based Stablecoin (Fixed Price Cryptocurrency) produced and developed by the Maker Protocol and the decentralized independent organization Maker Dao. The price of Dai is pegged. with the US dollar and is guaranteed by a combination of other cryptocurrencies deposited in smart contract) vaults every time a new Dai is created.

Who are the founders of Dai?
The Dai is governed by the Maker Dao and the Maker Protocol. Maker Dao is a decentralized independent organization. Maker Dao was founded by Danish entrepreneur Rune Christensen in 2015. Before starting his career at Maker, he studied biochemistry and international business in Copenhagen and established an international recruitment company called Try China.

Purpose of Dai
Dai is operated by a decentralized autonomous organization through a software protocol. As a result, every token release and burn are handled and recorded publicly using Ethereum-powered self-enforcing smart-contracts This makes the entire system more transparent and less prone to fraud. In addition, the Dai software development process is regulated in a more democratic way. Through direct voting by common participants in the token ecosystem.

Insight

• Dai is a decentralized, stablecoin operating on the Ethereum (ETH) blockchain that aims to maintain a value of 1 US dollar.
• Unlike centralized stablecoins, Dai is not backed by US dollars held in a bank account but is instead collateralized by assets on the Maker platform.
• Note: In the event of an upgrade or shutdown of the Dai credit system, Dai holders may need to convert their Dai into Ethereum via the Maker platform.

Official website: https://makerdao.com/en/

White paper: https://makerdao.com/en/whitepaper

Note
Cryptocurrencies And digital tokens are high risk. You may lose the entire investment amount. Please study and invest appropriately with your risk appetite. 

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