What is Dai (DAI)

1. Project Introduction Dai is a decentralized, soft-pegged USD stablecoin backed by overcollateralized crypto assets. Users can mint Dai by locking collateral into smart contracts called Maker Vaults within the Maker protocol, or acquire it through exchanges or payments. It is widely used for payments and savings, with the Dai Savings Rate (DSR) allowing users to earn interest on holdings. Dai’s value is always backed by collateral exceeding its issuance, with all data transparently recorded on the Ethereum blockchain. Summary: Dai is a fully decentralized, overcollateralized stablecoin that offers a reliable and efficient means of digital payment and savings. 2. Team & Investment Info Dai was launched in 2015 by the Maker Foundation, based in San Francisco. Key team members included: Rune Christensen (Founder & CEO): Studied at the University of Copenhagen; previously co-founded Try China. Steven Becker (COO): Background in financial mathematics; held senior roles in finance. Mariano Di Pietrantonio (Co-founder, Strategy Lead): Former founder of Be.Blockchain. In July 2021, the Maker Foundation transitioned full control of the protocol to MakerDAO and dissolved, completing the shift to decentralized governance. Funding History: Total raised: $79.5M Dec 2017: $12M token sale (40,000 MKR); investors included a16z, Polychain Sep 2018: a16z acquired $15M worth of MKR Apr 2019: $25M round led by COIND and Tokenpot Capital Dec 2019: $27.5M round led by Dragon Capital and Paradigm, who committed to supporting governance 3. Social Media URLs X: https://x.com/SkyEcosystem Reddit: https://www.reddit.com/r/MakerDAO/ Telegram: https://t.me/makerdaoOfficial YouTube: https://www.youtube.com/MakerDAO 4. Token Info Token Symbol: DAI Total Supply: 5,365,382,703 Token Type: ERC-20 Issuance/Burn Mechanism: Fixed supply Contract Address: 0x6b175474e89094c44da98b954eedeac495271d0f Token Distribution: NA 5. Related Links Official Website: https://makerdao.com/ GitHub: https://github.com/makerdao White Paper: https://makerdao.com/whitepaper