DAI is a collateralized stablecoin that stands out primarily because of its decentralization.
1 DAI is equivalent to 1 USD. Its backing consists of other crypto.
There are no bank accounts that function as collateral for its issuance. Anyone can issue DAI by depositing another crypto in a smart crontract.
Its nature is fully decentralized. The issuance of DAI and its operation are not governed by a company, but by MakerDAO, a Decentralized Autonomous Organization (DAO). By holding the MKR token, the community can participate in the organization's governance decisions and propose and decide on modifications to its operation.
In addition to DAI, there are other popular stablecoins, such as USDC and USDT.
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