Dai (DAI) is the largest decentralized stablecoin on the Ethereum network, issued and managed by the MakerDAO project. It plays a vital role in the infrastructure of decentralized finance (DeFi). Dai is designed to maintain a 1:1 peg to the US dollar and is built upon the Maker Protocol, also known as the Multi-Collateral Dai (MCD) system. This system allows users to deposit approved collateral assets into the protocol, as determined by "Maker Governance," to generate new Dai. As a decentralized, collateral-backed cryptocurrency, Dai is unbiased and offers a stable digital asset for users to store and transact in a stable value within the cryptocurrency space.

MakerDAO, a Decentralized Autonomous Organization (DAO), was founded in 2014, and Dai was first issued on September 19, 2017. The total supply of Dai has grown significantly, currently exceeding $5 billion.

To address the high volatility of the cryptocurrency market, where single collateral types can lead to large-scale liquidations, MakerDAO introduced Real-World Assets (RWA) as collateral. By 2024, the total value of RWA used as collateral for Dai has surpassed $2.8 billion. This approach provides greater stability and diversifies risk.

In May 2022, MakerDAO co-founders proposed the Endgame plan, a strategy aimed at increasing decentralization and resilience to external risks. This plan leverages RWAs as a transitional step to achieve a more decentralized system. By 2024, MakerDAO continues to expand this initiative, further solidifying Dai's position as a leading decentralized stablecoin and strengthening its role in both DeFi and broader financial ecosystems.

Above are only for introduction, not intended as investment advice.