Dai, one of the world’s largest stablecoins (currently ranked #21 place), is at the heart of blockchain-based financial applications. It is a crypto-collateralized stablecoin, and it was developed in 2017 by MakerDAO, a decentralized, autonomous organization on the Ethereum blockchain. Although Dai stablecoin also equals $1, Dai is backed by Ethereum-based smart contracts. That’s why we’ve for you how to buy Dai. It maintains its stability via external market factors such as collateralized debt positions (CDPs), autonomous response mechanisms, and external economic incentives. Dai is more decentralized because only users can create and destroy the token (DAI tokens appear only
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