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Category: Stablecoins -> Stablecoins Home Sites
Type: homesite
DAI is an Ethereum ERC20 stablecoin whose issuance and development is managed by decentralized autonomous organization - the Maker Protocol and the MakerDAO . The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted. Dai is the second-largest decentralized stablecoin by market capitalization ( compete with Terraâ??s native stablecoin â?? UST), and fifth of all stablecoins. MKR holders are responsible for governing the Maker Protocol, which includes adjusting policy for the Dai stablecoin, choosing new collateral types, and improving governance itself. Anyone can be an MKR holder.
