Dai (DAI) was created by MakerDAO, an Ethereum-backed network that is part of a larger project called the Maker Protocol. The token is one-of-two tokens utilized by the Maker Protocol, and aims to be considered the world's first decentralized coin. The coin's value is pegged to the U.S. dollar, and is backed by Ethereum smart contracts that are viewable on the blockchain. DAI is popular for its transparency and accountability.
Cryptocurrency is an exciting, new space to get involved in. Find out how to get in on the action.
Because stablecoins are often pegged to FIAT currencies with stable values, they are useful tools for currency conversion. Coins such as USDC, USDT and QCAD won't swing wildly up or down in value between withdrawal and funding another account.
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