Meet the Stablecoins, Ep. 4: DAI

MakerDAO & DAI

DAI, like many other stablecoins, is pegged to the U.S. dollar, meaning that DAI is designed so that one DAI token can always be exchanged for one U.S. dollar, and vice versa. However, DAI differs in many ways from centralized asset-collateralized stablecoins like USDC and USDT.

DAI on Hummus Exchange, Metis Andromeda

DAI can be found on many centralized and decentralized exchanges. The bridged version of DAI is typically identified by a prefix — it is m.DAI on Metis. Bridged assets are not native assets. Rather, bridged assets must be bridged back to a network where they exist natively.

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