Dai (DAI) is a crypto-collateralized stablecoin issued by the MakerDAO protocol (now Sky), a decentralized smart-contract system originally launched on Ethereum and governed by MKR token holders. It is most widely used as on-chain collateral and a settlement asset across decentralized finance, including lending markets, DEX liquidity pools, and yield strategies. For peg confidence, depeg chatter, and risk monitoring, see the full risk profile.
Research only — not financial advice, not a solvency rating.