Dai is the largest decentralized stablecoin on Ethereum. Developed and managed by MakerDAO, Dai is the infrastructure for decentralized Finance (DeFi). Dai is issued by full collateral on the chain of assets and is anchored 1:1 to the DOLLAR, with 1Dai=1 DOLLAR. Individuals and businesses can obtain safe-haven assets and liquidity by exchanging or mortgaging Dai. Dai has been applied in mortgage lending, margin trading, international transfer and supply chain finance.

Maker protocol, also known as the Multi-mortgage Dai (MCD) system, allows users to generate A Dai by leveraging a mortgage asset approved by Maker Governance. Maker Governance is the community organizing and operating process for managing all aspects of the Maker protocol. Dai is a decentralized, unbiased, mortgage-backed cryptocurrency pegged to the US dollar. Dai's low volatility protects against hyperinflation and provides economic freedom and opportunity for anyone, anywhere.

Dai Stable currency is a digital currency backed by mortgage assets whose price remains stable against the DOLLAR. Maker is a smart contract platform on Ethereum that supports and stabilizes Dai prices through CDP, automated feedback mechanisms and appropriate external incentives. The Maker platform gives anyone the opportunity to leverage DAI with Ethereum assets. When Dai is created, it can be used like any other digital currency asset: freely distributed to others, as a means of payment for goods and services, or in long-term storage. Importantly, the emergence of Dai is also a necessity for robust decentralized leveraged trading platforms.

All DAIs are created by mortgaging digital assets on the chain. The launch of Dai was made possible through a series of smart contracts. This series of smart contracts is called CDP (Collateralized debt obligation Position). In current market conditions, a user needs to pledge at least 150% of ETH value (i.e., $150 ETH value) in order to obtain the equivalent of $100 Dai, and the safety valve value is 200%. This percentage is called the Collateralization ratio.